Helix Bond is a high-risk, unregulated investment.
It has been connected to mis-selling claims, as it was sold to clients who were not suitable for this investment.
Helix Bond is a “complex” investment. Even understanding how it works is itself complicated.
According to a recent Financial Ombudsman case against an Adviser, involving Helix Bond, this is how they described it…
“According to the information memorandum …the way the investment worked was that Helix issued tranches of Euro Medium Term Notes (EMTNs) – debt securities -with each tranche having a specified duration and being redeemable on maturity.”
Privilege Wealth conducted lending activities in the USA.
The investor money paid by Helix to Privilege Wealth was to be used to provide short term loans and revolving lines of credit in the USA.
Helix used investor money to purchase promissory notes issued by Privilege Wealth, under the terms and conditions of a loan and ongoing finance agreement.
Administrators were appointed in respect of Privilege Wealth in 2018.
No significant money was recovered for investors, and the court ordered the company be wound up on 12 February 2020.
Tranche is a French word meaning slice. Bond tranches are usually “slices” of mortgage-backed securities. They typically carry different levels of risk, rewards, and maturities.
Tranches are complex and less sophisticated investors have a challenge in understanding them and therefore more likely to make uninformed decisions.
Due to how the performance is sometimes modelled, Tranches may be given a higher rating than they merit. This can cause investors to invest in riskier assets than they would prefer.
Many clients who invested in Helix Bond were unaware that their money was pooled together with other consumers they didn’t know, in these Tranches.
Consequently, they would never be able to withdraw their monies unless all the other investors decided to disinvest at the same time.
If you are invested in Helix Bond and would like some help – get in touch.
We can give you some free initial claim advice. It’s simply a brief telephone assessment to establish if you may be able to make a claim for compensation.
And if you do want us to take on your case we can explain how our service works.
See what our client think of us on Trustpilot – and why we are one of the leading claims management companies in the UK!
We provide an initial assessment to check if you may have a case to claim compensation
Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate there is a case
Our assessment is free and there’s absolutely no obligation to use our service
If you are invested in Helix Bond – making a claim can be just as complicated as the investment itself.
And due to the complexity of Helix Bond as an investment we have encountered many issues with the FSCS.
Here’s a recent case study involving our client Miss J.
She was invested in Helix through an ISA with Beaufort Securities.
The FSCS initially rejected our claims stating that due to Beaufort Securities not providing advice to the client to invest they were not responsible.
But we appealed the decisions… And the FSCS further rejected our appeal!
But we kept on and due to our perseverance and endeavours, we successfully overturned the FSCS’ decisions and got our client the compensation she deserved!
Also, as a result of our win, all cases submitted on the same basis as Miss J’s will be treated in the same regard when the FSCS’ make their decisions.
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.