POOR FINANCIAL ADVICE
AND RISKY OVERSEAS INVESTMENTS
It was discovered in 2015 that CIB Life and Pensions had been advising many of their clients to invest in high-risk overseas properties such as Harlequin Properties and The Resort Group. They were also found not to be complying with the suitability requirements for SIPPs. Without following the correct protocol and ensuring the clients were aware of the risky and un-regulated nature of their investments, they put many at risk of financial loss.
Following these revelations, the company went into liquidation, leaving a wrath of unhappy customers wanting answers for their loss or potential risk to their investments.
What does it mean for you if you took advice from CIB Life and Pensions?
If you took advice from CIB Life and Pensions, then they could have failed you in a number of ways. Not only did they fail to fully disclose the risks involved with certain high-risk investments, but they also did not fully check the suitability of investors when placing their money in high-risk investments.
It is advised that anyone who places funds in high-risk investments are either considered experienced in the investment world or are of such financial stability that it would not have a significant impact should the return of investment be low or even at a loss.
If you have fallen victim to the negligent services of CIB Life and Pensions, then this could mean that you may have, or be at risk of losing money. You could also have funds trapped in the SIPP because you can’t sell the investment and therefore cannot access your hard-earned pension money.
Have you been affected by CL&P?
At My Claim Helper, we take care of all the legal stuff for you. Get in contact for more information.
What can My Claim Helper do to help?
We understand the worry and stress that financial problems can cause, and that’s why we are committed to helping those involved with the SIPP mis-selling scandal to get the compensation they deserve. The Financial Services Compensation Scheme (FSCS) has set aside £100m for investors that were found to have a claim against negligent SIPP advice, and we want to help YOU get your share of that!
We have specially trained call handlers who will be able to talk through your concerns and discuss the way forward should they believe you have grounds to make a claim against CIB Life and Pensions.
If you want to then proceed with seeking compensation, then we will be there to help you every step of the way. We understand that you may be struggling a little with finances due to the circumstances and are likely to be unwilling to take further financial risk. That’s why we offer a NO WIN – NO FEE service.
Don’t lose out on the retirement you planned for. Pick up the phone today and you’ll start to see a brighter future with the pension you deserve!