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PSG SIPP Ltd expanded rapidly after acquiring a number of pension providers including Heritage SIPP, The Saltus SIPP, The International Expat SIPP & Brooklands SIPP.
The smokescreen behind the ownership of PSG has finally been removed by an insolvency process as Basi & Basi entered Administration in July 2024, under the new trading name Donre Advisory Ltd. The owners of PSG, Basi & Basi (Donre), are a UK financial advisory firm who also traded under the names; Brite Advisors (UK), Orion Asset Management, Onvestor DVC, Onvestor Reporting, Berkeley Square Associates & Orion Asset Management.
If you were advised to move your pension into any of the above named pensions by a financial advisor, including unauthorised advisors such as Tailor Made, you may be in a position to make a claim for pension switching or failed / failing investments. 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 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 (Donre) was closely connected to Brite Advisors Pty Ltd - a parent company to Brite Advisors Limited who recently started operating under the trading style Brite Advisory Group. A Citywire article 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."
PSG SIPP in 2022 declared as a person of significant control to Brite Advisors Ltd in the UK. In May this year, to protect customers of PSG, the FCA issued sanctions against PSG stating the pension provider must not " dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets, and any funds it holds", along with placing restrictions on directors.
If you feel that you may have been wrongly advised to move your pension, or have suffered losses due to failed, or failing, investments - 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 expert financial claims team will call you to discuss how we can help prepare your 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.
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.
