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7th of August 2023
Welcome to our article on SIPP Club, an Independent Financial Advisor (IFA) that has been advising people on pensions and retirement options for over 25 years. If you suspect you may have been affected by poor pensions advice or unregulated high-risk investments, please get in touch with us. Your interests matter, and we are here to provide support and gather more information on this matter.
Established in 2012, SIPP Club became a trading style of Better Retirement Group in 2018. The primary goal of SIPP Club, according to its website, is to "become your trusted financial friend." However, recent developments have raised concerns about its involvement in certain risky investment schemes.
One particular investment that has garnered attention is Dolphin Capital. Dolphin Capital, a German Property Group, has filed for bankruptcy, leaving investors facing substantial losses. Some consumers were transferred from highly beneficial company pensions, such as Final Salary schemes, into SIPPs (Self-Invested Personal Pensions) and subsequently invested in unregulated high-risk ventures like Dolphin Bonds.
It's worth noting that Better Retirement Group Ltd, which includes SIPP Club, was formerly known as Directly Financial Ltd and Financial Strategy Ltd. Over the years, they've operated under various trading names, raising questions about the scope and scale of their activities.
During the month of September 2022, the Financial Services Compensation Scheme (FSCS) initiated an investigation into Better Retirement Group. Prior to this, the Financial Ombudsman Service (FOS) had already upheld 17 complaints against the company, all of which were linked to unsuitable pension transfer advice. Notably, five of these complaints were made by individuals who were members of the British Steel Pension Scheme.
Investors were at risk of losing thousands of pounds from their hard-earned pensions due to these questionable pension transfers and investments. If you suspect you may have been one of those affected, it's crucial to reach out to us. We are actively gathering more information and investigating the extent of the impact on investors like you.
As we continue our research and receive updates, we'll ensure to share them with you promptly. Your financial well-being is our priority, and we're dedicated to providing the assistance you need. Don't hesitate to contact us if you recognise any of these names or suspect you may have been impacted.
Together, we can navigate through this situation and seek the best possible outcome for your pensions and investments. Stay tuned for more information and further updates
Make sure to reach out below via the contact form, if you would like a free, no-obligation chat with our team.
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.
