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TenetConnect Services Ltd

Under Investigation 05/06/2024

FRN: 150643

The FSCS placed TenetConnect Services Ltd under investigation on June 5 2024.

The firm went into administration along with its parent company Tenet Group and two other subsidiaries. Joint Administrators from Interpath Ltd have been appointed.

TenetConnect Services Ltd is authorised by the Financial Conduct Authority (FCA). It was also principal firm to a number of Appointed Representatives (AR’s).

Appointed Representatives can carry out regulated activity (like advising on investments) without having authorisation from the FCA.

This is because the principal firm, in this case TenetConnect Services Ltd, is responsible for the conduct and regulated activities carried out by its AR’s.

The FCA thinks many customers will be more familiar with the name of their adviser, who was acting as an AR, rather than TenetConnect Services Ltd.

You can find details on the FCA register of companies who were Appointed Representatives of TenetConnect Services Ltd.

 

Latest on FSCS claims TenetConnect Services Ltd

The FSCS released an update which says that a number of customers were due to be contacted. This was part of a past business review into Defined Benefit pension transfer advice.

It added that these customers were given advice by Appointed Representatives acting under the regulatory responsibility of TenetConnect Services Ltd.

The FSCS says it’s possible that these customers could be eligible to claim compensation from the FSCS.

Presently it is working closely with the Joint Administrators to help it work through these potential claims.

The FSCS is not open to claims against TenetConnect Services as it is working to “obtain, secure and organise data provided about past business reviews.”

It warned that this is likely to take several months.

The next update from the FSCS is expected be provided by the end of August 2024.

 

Our Initial Assessment

If you are concerned about the Defined Benefit pension advice you’ve been given or want to know more about making a mis-sold pension claim – we can help!

Our initial assessment can tell you if we think you have a case and what your options are if you do. It’s free of charge, completely confidential and there’s no obligation to use our claims service.

Key Facts

1
The FSCS is investigating potential claims against TenetConnect Services after it went into administration on June 5 2024
2
Customers who received Defined Benefit pension advice from Appointed Representatives of the firm could be eligible to claim compensation

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.