Integrity IFA was financial advice firm based in Edinburgh.
It also traded as Dewar and Partners, Scottish Landlords Insurance and Wood and Ker.
The FCA register shows that Integrity IFA received an asset and regulated activities restriction in November 2021.
The company began compulsory liquidation in February and was declared in default by the FSCS in April 2022.
The FSCS – Financial Services Compensation Scheme – usually declares a company in default once it is satisfied there are protected claims.
And that the company is unlikely or unable to pay the compensation.
The FSCS told FTAdviser it was processing seven claims so far, all of which were for pension advice.
Prior to this the Financial Ombudsman Services has also upheld claims against Integrity IFA relating to unsuitable pension advice.
Some clients complained that advice to transfer their pensions into SIPPs exposed them to unnecessary investment risk.
And that the new SIPP arrangement was more costly. In some cases, the risks involved did not match the client’s ATR – Attitude to Risk.
The BAD news:
Unsuitable Pension advice has caused huge losses
The GOOD news:
Compensation payments are hitting record figures every year
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.
You may be eligible to make a claim if you were given unsuitable pension advice by Integrity IFA.
Also trading as Dewar and Partners, Scottish Landlords Insurance and Wood and Ker.
If you’d like to know more about mis-sold pension advice – get in touch!
Our initial assessment can help establish if you have a case.
It’s free, and if you have case there’s no obligation to use our service.
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.