TPS Land was an unregulated introducer company which operated predominantly out of Spain.
It is another company reportedly connected to Terence “Terry” Wright.
All of these introducer companies have been connected to mis-sold SIPP pension claims.
TPS Land was not authorised by the FCA to give financial advice. But they persuaded many UK investors they’d be better off if they transferred their pensions into high-risk investments by way of SIPPs.
Terence Wright has had an FSA warning against his name since 2010.
Advising firms that he may be “providing financial services or products in the UK without our authorisation. “And to avoid doing business with him.
The FSA (the regulator at the time) said they believed he “may be targeting UK customers via the firm Cash in Your Pension.”
GAS Verdant was one of these investments. It involved the purchase of plots of farm land in Australian which would make money from the crops grown on it.
Unfortunately, it failed to deliver the high returns promised to clients and was given a zero value by the FSCS.
SIPP providers Berkeley Burke accepted business from TPS Land so clients could invest in GAS Verdant and Store First.
However, many of these clients were not suitable for such a high-risk, unregulated scheme.
Store First was an investment venture in storage pods. Offering a “guaranteed” income initially of 8% which would be generated from the rental of the storage pods.
Many investors have not seen these promised returns and were hit with bills for business rates.
Store First was a high-risk investment which was unsuitable for most SIPP investors.
TPS Land also marketed Martin Clews Los Pandos (Swiss Capita).
Los Pandos was promoted as a sustainable investment with generous returns. It was 830 hectares of land located between Alicante and Valencia which included a vineyard. The directors of the project were Mike Clews and Eduardo Martin.
However, people have not seen the returns they were promised.
This was another unregulated and high-risk investment mis-sold to unsuitable investors, quite often, as part of their SIPP.
The BAD news:
Unregulated Introducers aren’t authorised by the FCA which means it's difficult to make a claim
The GOOD news:
You may still have a case against your Adviser or Pension Provider
If you want to know more about making a mis-sold claim – get in touch!
Unregulated Introducers like TPS Land aren’t authorised by the FCA, but you could have a case against your Adviser or provider.
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