Agincourt Financial Ltd were established in 2001 as Cunningham Asset Management Plc.
They underwent several name changes, including Alecto Financial Ltd, before becoming Agincourt in 2012.
They have also traded as Mercantile UCITS, Mercantile Wealth, Mercantile Invest and Sommerville Advisory Markets.
Agincourt Financial have had several Appointed Representatives over the years, including Alternative Investment Initiatives Limited, Elevation Trading Ltd, Mercantile International Limited, Precision Technical Analysis Ltd and Growth Asset Partners Limited.
The Financial Ombudsman Service upheld complaints against Agincourt Financial Ltd in February 2020.
These complaints involved clients who were advised to open a Self-Invested Personal Pension so they could invest in CFD trading with Saxo Capital Markets.
While Agincourt did not advise on the pension transfers or investment, as a regulated company, they still had a responsibility in their role as Discretionary Fund Managers.
The FOS upheld these complaints, saying that Agincourt should have advised these clients that the CFD trading account was not suitable for the investment.
Investment mis-selling can happen due to people being mis-advised about the suitability of an investment.
CFD’s – Contracts For Difference – are complex, high -risk, unregulated investments and generally considered an unsuitable investment option for the average retail clients.
According to the FCA regulations, there are 3 key factors in determining whether an investment is suitable:
Financial advice may also be unsuitable if you were recommended to place most of your funds into a single high-risk investment, as these clients were.
Agincourt Financial was declared in default with the FSCS in November 2020 and is no longer authorised by the FCA.
If you are concerned that the advice you received regarding your pension or investment may mean you’ve been mis-sold – we may be able to help.
We offer a free no obligation consultation. This is basically a call to briefly discuss the circumstances and parties involved with your pension transfer.
From this information, we can tell you if we think you may have a case to complain to and ask for compensation. Then it’s up to you – no obligation to use our service.
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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.