Chat on WhatsApp

0114 266 4216

Mansion Park Ltd

Failed 23/03/2021

FRN: 209313

Did you get pension transfer advice from Mansion Park Ltd?

Mansion Park Ltd failed with the Financial Services Compensation Scheme (FSCS) in March 2021.

The firm, which also traded as Mansion Park Scotland, David Head MPL and Michael J Alexander, is currently in liquidation.

In 2020 the Financial Conduct Authority (FCA) placed an Asset Restriction on the firm and in 2023 banned two individuals for advice failings.

Mansion Park Ltd and BSPS claims

The FSCS confirmed that Mansion Park Ltd is associated with claims regarding the British Steel Pension Scheme.

In 2017, thousands of British Steel workers were given unsuitable advice to transfer out of their defined benefit pension into a defined contribution pension. These are also referred to as a Personal Pension Plans or SIPPs.

The FCA said that clients who were transferring out of the BSPS were in a vulnerable position due to the uncertainty surrounding the future of their pension scheme, adding that it was critical they received ‘sound advice’ from Mansion Park Ltd.

FCA bans Mansion Park Ltd Advisers

In September 2023, the Financial Conduct Authority (FCA) banned Keith Dickinson and Andrew Allen of Mansion Park from advising customers on pension transfers and opt-outs.

A notice published on the Regulator’s website said it had found that between June 2015 and December 2017 Mr Dickinson had provided unsuitable pension transfer advice which Mr Allen had signed off.

According to the FCA Mansion Park advised 400 customers to transfer out of their defined benefits pension scheme, of which Mr Dickinson advised 135 of them, including 68 BSPS members. It added that in total, those advised by Mr Dickinson had pension benefits worth approximately £36.8 million.

The FCA also ordered Mr Allen and Mr Dickinson to pay £70k and £85k respectively, to the FSCS as a contribution towards the compensation owed to clients of Mansion Park.

 

FSCS claims against Mansion Park Ltd

The FSCS has, to date, paid out almost £3million compensation to Mansion Park customers for the unsuitable advice they received. This includes more than £2 million for advice provided by Mr Dickinson.

If you were advised by Mansion Park Ltd to transfer your pension, you should check to see if that advice was suitable., as you could be owed compensation.

 

You can make a claim yourself – here’s some links to help you get started…

Financial Services Compensation Scheme
FSCS Making a claim
FSCS Contact Us

Money Helper
How to spot a pension scam

Money & Pensions Service
How MaPS can help those who have been scammed on their pensions

 

Using our Service to handle your claim

We’re one of the UK’s leading Claims companies specialising in mis-sold pension compensation claims.

Our claims service includes a full investigation of your case and total management of your claim.

Our success fee is calculated at 15%+VAT (total 18%) of the gross amount of compensation offered to you.

And our success fee is capped at £7,500 + VAT.

Use our Initial Assessment to check if you have a case

If  you’d like help establishing if you have a case against Mansion Park Ltd our free initial assessment could help.

We’ll you if we think you have a case and what your options are if you do – no obligation to use our service.

Simply complete in the form below or call our office to arrange.

Key Facts

1
Mansion Park Ltd was declared in default by the FSCS in March 2021
2
The FSCS has paid out almost £3million in compensation so far
3
The FCA banned and fined two individuals for advice failings

We win more than 9 out of 10 claims

The cost of our service is 15% + VAT on the total monies awarded for a successful claim. Our cost is also priced capped at one of the lowest rates.

Important Information!

You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.