CL&P – Commercial Land & Property Brokers were an unregulated introducer company based in Spain.
They’ve been involved in many mis-sold SIPP cases involving Store First Store Pods and GAS Verdant. They were part of the recent high court case against SIPP operator Carey Pension and former client Russell Adams.
CL&P cold called people offering free pension reviews. These were little more than sales exercises designed to persuade people to transfer their pensions into SIPPs which contained these investments.
Whilst accepting business from an unregulated introducer was not against the rules, it seems many red flags against CL&P were not picked up and acted on promptly by the SIPP operator.
These included an FSA warning from 2010 advising firms not to do business with CL&P’s director Terence Wright, as well as CL&P offering financial incentives to clients to invest.
The FSA said in the warning that they believed he was targeting UK investors through the firm Cash In My Pension.
CL&P also featured in a FOS complaint we represented on behalf of our client Mr S, who was successful against Carey pensions, now known as Options.
Whilst the Ombudsman did acknowledge that Carey’s had carried out some level of checks on CL&P it described them as being “reactive” and done in a “piecemeal” way. They also noted that they were carried out after Carey’s had already accepted business from CL&P.
If you’ve had dealings with CL&P or any other unregulated introducer regarding your pension you need to check if you should be making a claim for mis-selling.
If you want to know more about making a mis-sold claim – get in touch!
We offer a free initial consultation to help you check if you have a case.
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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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.