Blackstar Wealth Management

Have you received advice from Blackstar Wealth Management Ltd?

Investors face losing thousands of pounds from their pensions due to poor pension advice. Are you one of these people?   

Black Star Wealth Management Ltd were established in 2008 and based in the Midlands.

They were declared in default by the FSCS in January 2020, following 99 complaints made to the Financial Ombudsman Service.

The FSCS usually declares a company in default when they are satisfied there’s a valid claim and that the company is unable to return money to eligible customers.

Pension Transfer Complaints

Many of these complaints involved pension transfer advice given to clients to move their pensions into SIPPs.

Unfortunately, these SIPPs held high-risk investments, which aren’t usually recommended for the average SIPP investor.

High-risk Investments connected to SIPP mis-selling

One investment was German Property Group (GPG) previously called Dolphin Capital/ Dolphin Trust.

This investment to develop unlisted buildings in Germany promised high returns, but actually caused significant losses to UK pension investors.  GPG/Dolphin is currently undergoing bankruptcy proceedings in Germany.

Other high-risk, unregulated investments include Best International – Lateral Eco Park, Colonial Capital Bonds, as well as DFM Beaufort Securities.

Blackstar Wealth Management and Previous FCA Restrictions

In 2017 the FCA had placed restrictions on Blackstar Wealth Management, preventing them from carrying out pension transfer business without FCA consent. In 2016 they instructed them to immediately terminate all relationships with introducers associated with non-standard assets.

Introducers – Avacade

It’s been reported that Blackstar Wealth accepted business from Introducer firm Avacade. The Directors of Avacade had been involved in a court case with the Financial Conduct Authority. The FCA alleged that Avacade carried out regulated activity without proper authorisation, as well as making “misleading statements” to customers.

This mainly involved the promotion of unregulated investments, which led to hundreds of investors transferring millions of pounds into SIPPs.

The court didn’t agree and found their actions unlawful. They were fined £10m.

Latest on Blackstar Wealth Management

In August 2019, Blackstar Wealth entered Administration and the company liquidated in July 2020.

It’s been reported that the FSCS had already paid 4.4m in compensation to Blackstar Wealth Management clients.


Want to know if you may have been mis-sold your SIPP?

Whilst each case is individual, as pension mis-selling specialists we know to look for certain signs that in our experience indicate that SIPP mis-selling may have happened.

Our assessment is free and there’s absolutely no obligation to use our service if you have case.

Key Facts

Blackstar Wealth were declared in default by the FSCS in 2020 following 99 complaints made to the Financial Ombudsman Service
Over £4m compensation already paid to Blackstar Wealth clients by the FSCS

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.

Rodders Hewitt
Pension Claim Consulting Ltd ...have for me done a great job ...within the expected time scale ...Couldn't have asked for more
Phil C
Thank you to all at PCC. My claim was managed brilliantly and was successful. I can highly recommended their services. Thank you once again
Christopher Fraser
After identifying a concern regarding my pension, I sought advice from Pension Claim Consulting. The response and customer service was swift and amazing. The courtesy and care taken throughout the whole process was phenomenal. The consultant’s communication from start to finish filled me with confidence that PCC do exactly what they state and were on hand whenever required. The level of understanding, empathy for the frustrations, and patience is by far the best I’ve witnessed. I cannot thank PCC enough for their outstanding work ethic and dedication to customers/clients. If you have any concerns at all regarding your pension, then I would highly recommend that you get in touch with them.
Andy Yates
Fantastic service, so impressed with Pension Claims Consulting. None stop updates throughout and everyone who works there was so helpful and supportive in every way. Thank you so much for getting my pension back.
Robert Manningham
Pension Claim Consulting Ltd successfully won a case on my behalf following misguided advice I received in relation to my pension. They were most proactive in the process and kept me fully informed every step of the way. I have no hesitation in recommending their services.
Deanamo 84
Very professional, very thorough and very good at what they do. Always at the end of the phone or email for any questions at anytime throughout the process. I can’t recommend them enough.
Roger King
Pension Claim Consulting managed to reclaim some of my pension by constantly chasing the company that fraudulently took my money. I though that I had lost everything. I cannot thank them enough on recovering some of my pension back.
Susan Stringer
Excellent standard of service. The claim was protracted substantially by virtue of opponents trying hard to not accept any responsibility for their actions and not return the pension fund. PCC kept me fully informed throughout the process, obtained an excellent result for me.They also kept chasing the opponent when little action was taking place from them. The staff were always pleasant and helpful to deal with and very encouraging when I felt my claim was doomed to failure. I can not praise highly enough
Paul Wilshaw
Very professional and informative from the beginning of our 5 year relationship. They talked me through every step of the process with what to expect. I would recommend Pension Claim Consulting to anyone who wants an honest and professional service.
Bill Cass
Great team and they will get the best outcome they can always kept informed the process took a longtime not because of anything pension claims consulting did purely the pension sip provider playing games i would 110% recommend this company to pursue your claim without doubt best thing i have done they didn't give up on my claim even though I had given up on any good outcome however finally resolved and paid thank you pension claim consulting
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.