Channel One Financial Planning were an advice firm based in Birmingham.
They also traded as Channel One Financial Services.
They’ve been in liquidation since January 2021 and were declared in default by the Financial Services Compensation Scheme on 25th of January 2022.
The FSCS usually declares an authorised firm/individual in default when they are satisfied there are protected claims, and that they are unable to pay out on them.
It’s been reported that the FSCS has received 17 claims against Channel One Financial Services. 14 of which relate to pension transfer advice.
Channel One Financial Services are one of the many advice firms linked to British Steel Pension Scheme claims.
It’s not known yet how many of these cases are related to BSPS transfer advice.
Members of the British Steel Pension Scheme were faced with a decision over what to do with their pension as part of a restructure of the scheme.
Many members were advised to transfer out and move their pensions into a personal pension or SIPP.
However, for many of the 8,000 members who are believed to have followed this advice, it was not in their best interests to do so.
In fact, the Financial Conduct Authority intervened which resulted in several advice firms ceasing their pension transfer business. Some stopped trading altogether.
Many former BSPS members are now claiming compensation for mis-selling.
If you received pension advice from Channel One Financial Planning and that advice is proven to be unsuitable then you may be able to make a claim for compensation.
If you’re concerned about the pension advice you received and want to check if you have a claim – we offer an initial consultation.
Whilst each case is individual, as pension mis-selling specialists we know to look for certain signs that in our experience indicate that mis-selling may have happened.
Our assessment is free and there’s absolutely no obligation to use our service if you have case.
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We are 100% Pension Mis-selling Claims
Our fee is 15% +VAT on the total monies offered for a successful claim and is capped at £7,500 +VAT. There is no charge for unsuccessful claims
We win more than 9 out of 10 complaints
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.