Forthplus Pensions Ltd

If you were advised to move your pension into a Forthplus SIPP, you may want to check if you should be claiming compensation for mis-selling.

Forthplus Pension Ltd are based in Edinburgh and were previously known as Helium Miracle 119 Ltd and Athena Pensions Ltd.

They recently hit the headlines after concerns that two overseas based companies, who had introduced business to Forthplus, may have given clients unsuitable transfer advice regarding their SIPPs.

Brunel and Lewis

Brunel and Lewis Insurance Advisors, Agents & Sub-Agents Ltd are based in Cyprus.

They are no longer authorised by the FCA to carry out regulated activities, including advising people on pensions or investments.

However, the advice Brunel and Lewis had given prior to this change in May 2020 may be linked to mis-selling cases involving Forthplus SIPP.

Planet Pensions

Planet Pensions S.R.O were previously known as Square Mile Financial Services S.R.O and were based in the Czech Republic.

The FSCS placed a notice on its website in January 2021 advising clients that Planet Pensions had gone into liquidation and that some clients were claiming compensation due to the failure of Planet Pensions. The FSCS stated…

“Square Mile gave some customers unsuitable advice to transfer their pensions … FSCS understands that Forthplus Pensions Ltd (an FCA authorised firm) accepted pension transfers into the Forthplus SIPP, on the recommendation of Square Mile.”

SIPP mis-selling and financial advice

SIPP mis-selling quite often begins with poor quality financial advice.

This may also be the case for Forthplus SIPP customers who transferred on the advice of UK based advisers with connections to pension mis-selling.

  • Connected Financial Services were declared in default by the FSCS in 2020 after multiple compensation claims were made against them. They also traded as Otium Financial and Rothgen Capital.
  • Wellington Court were told by the FCA in 2020 to stop giving pension transfer advice. Reports of their involvement in a pension transfer which saw the client moving from a local government pension scheme into a Forthplus SIPP after being introduced by Brunel and Lewis. This kind of transfer is usually unsuitable for most people.
  • Omega Financial Solutions are no longer trading and have not been authorised by the FCA since 2019. They also faced multiple compensation claims.

What can you do if you think were mis-sold?

If a regulated firm or adviser has given you bad advice regarding your SIPP, you may be able to claim compensation.

You may also be able to complain against the SIPP provider too if they haven’t exercised proper due diligence regarding the investments in their SIPPs.

Get a free assessment to see if you may have mis-sold SIPP

If you want to know if your Forthplus SIPP may have been mis-sold to you – we can help with our free assessment check.

Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate that you have a mis-sold SIPP.

Our assessment is free and there’s absolutely no obligation to use our service if you have case.

Key Facts

1
Accepted business from Brunel and Lewis and Square Mile Financial Services (Planet Pensions) who may have given clients unsuitable pension transfer advice
2
3 Financial advice firms, who advised clients into Forthplus SIPP, have had claims of mis-selling brought against them

We win more than 9 out of 10 claims

The cost of our service is 18% inc VAT on the total monies awarded for a successful claim

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.