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Donre Advisory Ltd's website states 'You are the single most important part of the financial planning equation' which leaves clients asking 'If so, what went wrong?'. Following major FCA sanctions issued May 2024, Donre Advisory - who also traded under the names; Basi & Basi Financial Planning Ltd, Brite Advisors (UK), Orion Asset Management, Onvestor DVC, Onvestor Reporting, Berkeley Square Associates & Orion Asset Management - entered Liquidation in July 2024.
The FCA have stated they restricted permissions because 'it was operating without any FCA-approved senior manager function holders’, following removal of the senior team by Basi & Basi (Donre) just days before.
If you have been advised by any of the above trading names, you could be in a position to make a successful claim relating to poor advice, pension switching, or a failed investment. To request a scheduled call, simply click here to complete our short contact form and a member of our expert financial claims team will call you to discuss how we can help prepare your case for compensation.
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.
Basi & Basi were the parent company to two subsidiaries, personal pension provider PSG SIPP Ltd and Gibraltar based pension scheme administrator Relay Administration Ltd, which went into Administration earlier this year.
In May, PSG SIPP also had major sanctions issued by the FCA. Basi & Basi and in turn parent company Brite Advisors Pty Ltd, based in Australia, are the owners of a number of SIPP Pension brands under PSG's banner including Heritage SIPP, The Saltus SIPP, The International Expat SIPP & Brooklands SIPP. In February 2024, Liquidators were appointed on behalf of Brite Advisors Pty Ltd.
Basi & Basi expanded its reach through its Appointed Representatives; Express Newspapers & Onvestor Advisory Limited. Onvestor was involved in processing 'Qualifying Recognised Overseas Pension Scheme' (QROPS) Pension Transfers for UK Expats to move their Defined Benefit (company) Pensions out of the UK via connected advisors overseas.
If you feel you may have lost money following a Pension Switch via this firm or any of its trading names or pension brands, time line limitations to register your claim may apply so please do not delay in contacting our team to assess your potential claim. 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.
Basi & Basi advised many clients to invest in fixed high-return bonds and loan note investments, including Dolphin - also known as German Property Group (GPG) - a failed oversees investment. We are pleased to inform you that here at CP Financial Claims, we have won many successful claims for our clients regarding this failed investment and the pension providers involved.
As the liquidation of Basi & Basi advances, it is clear that the major shareholders are Brite Advisory Group, who previously traded as Brite Advisors Pty Ltd and Brite Advisors (UK). Citywire recently reported "Australia-based Brite Advisors Pty, borrowed millions of dollars against client assets to fund related companies without disclosing that activity to clients.... In October 2023, the Australian regulator started court action against Brite because it was ‘concerned the financial position of Brite and the value of client funds under its management were unknown’.
If you feel that your pension may be at risk, or you may have been wrongly advised to move your pension in connection to any of the above firms - we are here to investigate every avenue for you to ensure the maximum amount of compensation is identified and progressed.
To request a scheduled call, simply click here to complete our short contact form and a member of our team will call you to discuss how we can help prepare your case for compensation.
You are not obliged to use our service. It is possible for you to present your 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.
