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Better Retirement Group Ltd have been advising people on pensions and retirement options for over 25 years.
During this time, they’ve also taken on many trading names including SIPP Club.
SIPP Club was founded in 2012 and became a trading style of Best Retirement Group in 2018. According to its website the aim of SIPP Club is to “become your trusted financial friend”
SIPP Club has been involved in some consumers transferring from highly beneficial company pensions (Final Salary) into SIPPs and into unregulated high-risk investments. One such investment was Dolphin Capital (German Property Group) which has recently filed for bankruptcy leaving investors facing thousands of pounds of losses.
Better Retirement Group Ltd have traded under a multitude of names:
It’s also reported that Better Retirement Group Ltd provided “specialist DB transfer services” to Fiducia Wealth Solutions, who have since ceased trading. Fiducia were allegedly involved with the Steelworker pension fiasco and collapsed DFM SVS securities.
Better Retirement Group has asked the FCA to impose requirements on its permissions, meaning it can no longer conduct regulated activity.
According to the FCA register, the firm applied to stop all regulated activities on May 30th 2022.
The firm was also subject to an Asset Retention order by the FCA in October 2020.
This prevented Better Retirement Group from disposing of any assets or selling their client base with the regulator’s consent.
Speaking to the FT Adviser the soon to be retired director Stuart Bayliss said
“I believe the quickest way for these people to get the compensation they deserve from the SVS debacle is for us to step out of the way’.”
The Financial Services Compensation Scheme (FSCS) has yet to declare default in respect of Better Retirement Group.
This would need to happen in order for the FSCS to step in and pay compensation to clients.
Better Retirement Group Ltd provided “specialist DB transfer services” to collapsed DFM SVS securities.
SVS Securities PLC entered special administration in 2019 after the Financial Conduct Authority identified “serious concerns” about the way in which the firm was operating.
The regulator warned some clients were paying fees and charges as high as 20% of their total investment.
In February, the FSCS said it had paid out a total of £31.6mn in compensation to former clients of SVS Securities.
If you are one of the many thousands of people affected by poor pension advice – get in touch, as we may be able to help!
We can assess your pension advice to check if any wrongdoing has occurred and tell you if you may be able to claim compensation. It’s free and there’s no obligation to use our service
EMAIL US - info@pensionclaimconsultingltd.co.uk
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.