The Resort Group

If you transferred into a SIPP which had an investment for The Resort Group you may what to check if you should be claiming compensation

Founded in 2007 and registered in Gibraltar, The Resort Group (TRG) is an investment in luxury holiday resorts in Cape Verde. According to TRG’s website the completed resorts, situated on the island of Sal are; Tortuga Beach, Dunas Beach, Llana Beach and TUI Sensimar Cabo Verde.

The Resort Group Panorama Documentary

This investment is no stranger to hitting the headlines, not just because of the celebrity endorsements used, but also, reports that investors were not getting the returns they were promised. Something still making news as this story in the FT Adviser from September 2019 shows.

The Resort Group then featured on a Panorama undercover documentary about “Pension Rip-offs” with secret footage on two companies owned by TRG – Lifestyle Connections and First Review Pension Services.

Cold Call Pension Review

Derby based Lifestyle Connections was a marketing company, who cold called people offering them a free “Pension Review”. They then referred the clients to First Review Pension Services, who despite having no regulated authority to give financial advice, persuaded people to invest in The Resort Group.  Reports that followed the programme claimed sales agents were getting as much as 7% commission.

Both companies ceased generating new business in 2016. By then though, many people had invested in TRG and not just through First Review and Lifestyle Connections.

Consumer Money Matters Limited were another Introducer company  linked to mis-selling cases involving The Resort Group.

The Resort Group Mis-selling

Investments like this are usually classed as high-risk and are also unregulated, which means there’s no protection from the Financial Conduct Authority. This is also why such investments are not suitable for the average SIPP investor.

Unfortunately, a lot of mis-selling occurs when the average investor does end up in unsuitable investments, often as a result of negligent financial advice.

Archer Bramley  and Chadkirk Wealth Management advised clients into SIPPS which contained The Resort Group investment.

Pension Providers Guardian/GPC SIPP  and Lifetime SIPP had The Resort Group in some of their SIPPs.

Get a free expert opinion

Whilst each case is individual, as mis-selling specialists we know to 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.

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Key Facts

1
High-risk investment which was unsuitable for most SIPP investors
2
SIPP Providers GPC SIPP Ltd and Lifetime SIPP Co Ltd had The Resort Group in some of their SIPPs
3
You may be able to claim compensation for mis-selling

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