Founded in 2010 financial advisers J. Richfield Ltd also traded as Sovereign Financial Services. In 2017 they lost their authorisation with the Financial Conduct Authority, who told them to “not to undertake UCIS activities”.
Unregulated Collective Investment Schemes (UCIS) are types of investments, often referred to as a pooled investment, in which several people may contribute to the asset. Being unregulated means there’s no protection for investors from the FSCS or Ombudsman should things go wrong
These types of investments are generally only considered suitable for:
Before they went into liquidation in May 2017they had advised some clients to invest in high-risk investment schemes. These included Carbon Credits and Cadnam Plot which was a land banking scheme situated near the New Forest.
A major part of the pension mis-selling scandal that has occurred in recent years has been down to poor financial advice. Often involving people transferring their pension into SIPPs which contain high-risk investments, that were not suitable to their circumstances.
If you are concerned that the advice you received regarding your pension may mean you’ve been mis-sold – we may be able to help. We offer a free no obligation consultation.
This is basically a call to briefly discuss the circumstances and parties involved with your pension transfer. From this information, we can tell you if we think you may have a case to complain and ask for compensation. Then it’s up to you – 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.