Cowley & Miller Independent Financial Services

Did you receive advice from Cowley & Miller? If so, you may want to check if you should claim compensation for mis-sold pension advice.

Cowley & Miller Independent Financial Services are a financial advice firm established in 2011 and based in Scotland.

Tidal Wealth Management Ltd and Cliffton Gillis were appointed representatives of the firm from August 2013 to May 2016 and Jan 2014 to June 2014, respectively.


Unsuitable advice complaints and Cowley & Miller Independent Financial Services

The Financial Ombudsman Service has upheld unsuitable advice complaints against Cowley and Miller. Clients successfully complained that the advice they’d received to transfer their pensions into a SIPP and invest in a high-risk, unregulated investment wasn’t suitable.

Some of these clients were referred to Cowley and Miller via an unregulated introducer company, who had recommended the investment.

However, the FOS stated in one decision …

“… regardless of who introduced Mrs B to the investment, Cowley & Miller still had a duty to provide her with suitable advice”


Carbon Credits

The investment involved in some of these complaints was Carbon Credits. This has commonly been mis-sold to average retail clients through SIPPs, like the cases above. Unfortunately, being high risk and unregulated means it is usually only appropriate for certain “sophisticated” investors.


Cowley & Miller Independent Financial Services and FCA restrictions

In 2018, the FCA placed requirements on Cowley and Miller regarding their pension transfer business. The firm was told they must “Refrain from advising on any new or existing transfers of defined benefit or safeguarded benefits for clients in respect of any transaction. save where the advice has been previously reviewed by an independent and suitably qualified third party…”

In June 2021, the FCA placed an asset retention. Meaning the firm must not dispose, transfer, sell or diminish the value of any assets or its client base without the FCA’s approval.

The company applied to have its FCA permissions cancelled in December 2021.


According to companies house Cowley & Miller appointed insolvency practitioners on March 2nd, 2022.

This was following a meeting which advised that the company “cannot by reason of its liabilities continue its business and that it is advisable …that the company be wound up voluntarily.”

This means that Cowley & Miller no longer has the capacity to defend redress claims made against it. And to compensate those clients directly.

Therefore, claims against Cowley & Miller will now pass to the Financial Services Compensation Scheme (FSCS)

Latest news on Cowley & Miller Independent Financial Services – July 2022

Cowley & Miller were declared in default by the Financial Services Compensation Scheme (FSCS) on July 7th 2022.

The FSCS are now accepting claims against Cowley and Miller Independent Financial Services.


What is mis-sold financial advice?

Mis-sold financial advice is the heart of most mis-selling cases. It quite often involves transferring from a personal pension into SIPP.

Unfortunately, the investments within these SIPPs are high-risk, unregulated, and unsuitable.

People being advised to invest in schemes that do not match their attitude to risk are common in many mis-selling cases.

The transfer itself may also be ill-advised if the client had been better off staying in their existing pension scheme.


Want to know more about mis-sold pension advice?

If you are concerned about the advice you received from Cowley & Miller Independent Financial Services – we can help!

We offer a free initial consultation to help you check if the advice you received may have been unsuitable (mis-sold)

Each case is individual. But as mis-selling specialists, we 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.

See what our clients have to say about our service on Trustpilot.

Key Facts

Complaints have been upheld by the FOS relating to advice to transfer into a SIPP and invest in Carbon Credits - a high-risk, unregulated investment
The FCA placed restrictions on Cowley & Miller in 2018 regarding their pension transfer business
Cowley & Miller were declared in default by the Financial Services Compensation Scheme (FSCS) on July 7th 2022, following action to voluntarily wind up the firm

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.

Robert Pemberton
Antony Stroud
Excellent company, would definitely use again, they never gave up
Junior Geener
always kept you informed has to what was going on .I'd recommend pension claim to anybody
Ian Gaynor
A thoroughly positive result and experience. In all honesty I didn't have much hope of any success following a truly dodgy pension investment. I spent years angry at myself then decided to let these guys have a go on my behalf. It took hardy any effort on my part and they kept me fully informed, then out of the blue I got a call saying they have won all my pension back plus more and within days it hit my account. Thrilled with their effort and professionalism. I dealt with a few different staff and all were informative, polite and helpful. I great end to a terrible situation. 100% genuine review and I cannot recommend them enough. Thank you.
Grace Anderson
Pension Claim Consulting were a Godsend. I was told about them by a friend who had also invested in a pension. They kept me informed on the progress of my claim with regular updates and answered my queries with patience and professionalism. There percentage for on behalf was also lower than expected. I can't thank them enough
adrian buck
Keith Wilkins
Very thorough and achieved the goal regarding compensation in full. Took a while but was worth the wait
Mark Holmes
Excellent service. Great result.
michael dixon
I was approached by Pension Claim Consulting after the company that was handle ing my SIPP had been investigated by the Financial Ombudsmen and informed me i had a case, with this information given to me i agreed to let them represent me in trying to reclaim my investment. All through the process i was informed of every step and on a regular basis even though it took many months the outcome was successful and i was reimbursed fully. This is a fantastic company to work with and dedicated staff who know their business. Many Thanks. Mike Dixon.
Roderick Turnbull
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.