MANY INVESTORS WILL NOT
BE REIMBURSED THEIR PESNION FUNDS
First Review Pension Service was officially dissolved as of 12th September 2017. The company was scrutinised under investigation for its heavy involvement with ‘The Resort Group’, a Cape Verde-based investment group, along with a Derby-based call centre ‘Lifestyle Connections’.
Lifestyle Connections, a call centre owned by The Resort Group, operated by cold-calling potential investors to arrange a pension review with an ‘expert’. The next stage of the process involved speaking to a pension consultant from First Review Pension Service, also owned by The Resort Group. From here, The Resort Group had perfect opportunity to lure potential investors into a risky and unregulated hotel investment opportunity. The group were based in Cape Verde, and therefore unregulated by the Financial Conduct Authority.
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BBC’s Panorama programme which aired on the 11th of July 2016 brought to light the marketing tree The Resort Group deployed in order to acquire as many investors as possible in their high-risk hotel. The unregulated group have provided information on SIPP transfers and had tempted investors by offering a steady 10% interest per year on overseas property funds. One consultant from First Review Pension Services claimed to receive an additional 7% commission on any cash investments in The Resort Group.
Investors, however, have failed to see the income they were promised and are now struggling to reclaim their initial investment. Many have suffered fatal blows to their pension pots, while the majority of victims feel anger for the dishonesty of the group. Lifestyle Connections and First Review Pension Services ceased operations in June 2016.
It has since come to light that one day before First Review Pension Services ceased operations, another similar company opened under the name “Pension Connect”. It was originally located just 0.6 miles away from the First Review Pension Services offices. Pension Connect collects information on pensions and introduces individuals to a number of regulated advisers.
A spokesperson of First Review Pension Services stated: ‘To be absolutely clear, no directors of any business associated with The Resort Group have had any involvement in establishing or operating Pension Connect. Pension Connect is a completely independent company.”
Investors, however, find this hard to believe, and urge others not to make the same mistake they did.
If you are one of the many who were tricked by The Resort Group, then you may have cause for a claim.
Here at My Claim Helper, we can help you to win back what is rightfully yours so that you can enjoy the retirement you had envisioned. We urge you to get in touch with our in-house team, who are are experts in handling mis-sold pension claims. We offer a quick and easy, no-obligation assessment where you can discover if you have cause for claim. You are not alone, and we are here to help win back what is rightfully yours from First Review Pension Service and The Resort Group.