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.

According to the FCA register Tidal Wealth Management Ltd were appointed representatives of the firm from August 2013 to May 2016.


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.

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.