Have you ever encountered Investaco, a renowned unregulated introducer, in your financial ventures? If so, we at CP Financial Claims are here to guide you through the controversies and misadvised claims associated with it, offering assistance to anyone potentially affected.
Investaco Ltd. is known for collaborating with industry specialists and professionals to furnish individuals and businesses with tailor-made investment and financial solutions. They claim to have discovered numerous investments possessing relatively low to mid-risk profiles, available for acquisition through various means including Direct Cash Investment, ISA, SIPP, SSAS, and UCIT.
However, a crucial point to note is that Investaco Ltd is not authorised or regulated by the Financial Conduct Authority (FCA). They do not proffer any financial advice, and the investment products featured are not protected by the Financial Ombudsman Service or the Financial Services Compensation Scheme. The investments they deal in are purportedly suitable solely for High Net Worth, Sophisticated, or Professional Investors.
An alarming trend in the financial domain is the closure of companies once the Financial Ombudsman Services (FOS) begin awarding compensation, particularly if the firm lacks adequate indemnity insurance cover or if the insurer contends that the advice was not included within the provided cover.
Independent Financial Advisors (IFAs) often transition from one regulated firm to another, leaving the compensation claims to be addressed by the FSCS, or they exit the regulated market altogether, arranging investments without an FCA license. In such scenarios, regrettably, the maximum achievable compensation is capped at £50,000.00.
Examples of companies engaging in such practices include, but are not limited to, Investaco, Atlantic Overseas Investments Limited, and 1994 Exclusive Investments Ltd. These companies are synonymous with unregulated and dubious financial activities, raising numerous red flags in the financial ecosystem.
Let’s examine the instance of 'Mrs. G', associated with the Teachers' Pension Scheme (TPS). She was unaware that Bespoke, who had never received any authorisation from her, had sent the Initial Request Form to TP. Mrs. G, who had not received any advice from Bespoke, noted that if any scheme was alluded to in the paperwork dispatched by Bespoke, TP did not undertake any due diligence on it.
Mrs. G later encountered a promotional email from Investaco discussing frozen pensions. Having previously advised her on mortgages and commercial insurance, Investaco was a familiar name. Despite initial reluctance, Investaco eventually suggested a product (LQPS) compatible with a transfer of funds from the TPS.
On 9 December 2014, a representative from Investaco met with Mrs. G and initiated the transfer process. Mrs. G complains that TP did not execute adequate due diligence checks when transitioning her pension benefits to the London Quantum Pension Scheme (LQPS), restricting her access to her benefits.
The complaint stands validated against TP due to its failure in implementing appropriate processes to conduct sufficient checks and inquiries regarding the LQPS and in notifying Mrs. G of the potential repercussions of transferring.
In this sea of undisclosed risks and unauthorised financial dealings, CP Financial Claims emerges as a beacon of hope. We are here to extend our support and guidance to anyone who has encountered the likes of Investaco and other similar entities. If these names resonate with your experiences and you believe you may have been affected, please reach out to us immediately.
As and when we receive more information, we will update this page. In the meantime, please contact us.
For those who suspect they may have fallen prey to misadvised claims and undisclosed risks, opening a claim is a viable course of action.
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