Briggs Murray Financial Planning & Wealth Management was a financial advice firm based in West Yorkshire.
It also traded as Briggs Murray Wealth.
The company was dissolved in October 2021 and declared in default by the Financial Services Compensation Scheme in April 2022.
It is one of several financial advice firms associated with claims regarding the British Steel Pension Scheme.
A declaration of default means the FSCS are satisfied that there are protected claims against the adviser or firm.
The FSCS exists to protect customers of financial services firms that have failed and can’t pay claims against it. When this happens, the FSCS steps in and can pay compensation to eligible claimants.
You can still make a claim for compensation against Briggs Murray but the FCSC will handle the claim.
The FSCS is limited to how much compensation it can award, depending on when and how you were mis-sold.
During 2017, thousands of British Steel workers were given advice to transfer their defined benefit pensions into defined contribution pensions.
Defined Contribution Pensions are also referred to as Personal Pension Plans or a Self-Invested Personal Pensions (SIPPs).
The advice they received may not have been the best advice for many of the British Steel Pension Scheme members.
This because by transferring to a private pension arrangement, they would’ve lost the benefits already built up in the British Steel Pension Scheme.
And it may not be realistic to achieve the same level of benefits from their new pension plan
Those BSPS members who received unsuitable pension transfer advice are now claiming compensation.
The BAD news:
Pension mis-selling has cost pension savers BILLIONS of pounds
The GOOD news:
Compensation payments are hitting record figures every year
If you’d like to know more about unsuitable pension advice and making a claim, our initial assessment may be able to help.
It’s free, and there’s absolutely no obligation to use our service if you have case.
If you were given unsuitable pension advice by Briggs Murray you may be able to make a claim
Unsuitable pension advice can mean that you received poor or negligent advice to transfer your pension.
Or it could be that the investment in the new pension plan didn’t accurately reflect your attitude to risk
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.