In 2013, after the FCA raised concerns regarding compliance, Douglas Baillie suspended its pension switching business ‘The Pension Specialist’. They were suspended in particular for how thoroughly they were checking their client’s financial situation before making recommendations.
Douglas Baillie then appointed liquidators and in 2016 the FCA changed their status to “No longer authorised”.
There have been Ombudsman decisions against Douglas Baillie for the advice they gave to clients regarding SIPPs in particular where clients had been wrongly advised into unsuitable and unregulated investments.
?If you are concerned about the advice you may have received from Douglas Baillie then you can speak to one of our Claims Handling Team, who are experienced in assessing whether the advice you received was suitable or negligent and if you can pursue a claim for compensation.