0161 798 8586 info@claiming4u.co.uk

Have you invested in British Steel?

A second advice firm involved in the British Steel saga has gone into liquidation, were you mis-sold?.

What is a IFA?

 

Independent Financial Adviser

Independent Financial Advisers or IFAs are professionals who offer independent advice on financial matters to their clients and recommend suitable financial products from the whole of the market.

It is likely you were mis-sold if any of the following applies to you. This could mean that you are eligible to claim for a compensation.

  • Lack of understanding – Where you were new to investing and did not understand the process or investment that you were advised on.
  • Given poor advice – Where you were advised to switch, even though your existing scheme was more suitable to your current and future pension needs.
  • Hard sales or pressure selling – Where you felt uncomfortable or pressured into an investment that you didn’t really need or want.
  • Income tax implications – If you were not warned that exceeding your annual tax-free limit of £40,000 would result in you paying 55% in income tax.
  • Advised you could avoid tax – If your financial or pension adviser recommended an SIPP as a means of tax avoidance.
  • Lack of transparency on fees – If you were not made aware of any management fees or additional costs attached to the investment
  • No advice given on the risks – If you were not given advice about the risky nature of investing in property and the potential negative implications.

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Were you financially mis-sold by an IFA?