Mis Sold Pensions With Chadkirk Wealth Management
If you were a customer of Chadkirk Wealth Management, then they had a duty to provide you with pension advice that was in your best interests, and followed the FCA’s rules regarding safety and risk management. They were required to provide you with the pension arrangement that was right for your circumstances.
The last few years have seen an increase in the number of mis-sold pensions, with poor advice about SIPPs and non-standard, high-risk products becoming commonplace. Chadkirk Wealth Management was dissolved in 2016, and no longer has authorisation from the FCA to advise on pensions. If they handeld your pension transfer then it is worth investigating whether you were given the quality of advice that you deserve.
Discretionary Fund Management – A Pension Scam
Discretionary fund managers are companies that make investments for their clients, and that are required to operate within your wishes, and take an approach that matches your attitude to risk, and the type of fund that is most suitable for you. If such a company negligently (or wilfully goes rogue) invests in high-risk holdings that are not particularly liquid, then they are trapping your money in a risky asset. Some companies of that nature are forced into liquidation if the investments they choose to make fail. The average person with a retirement fund cannot afford such risk. This kind of abuse is becoming such a common problem that the FCA has put out a warning to pension providers, calling abuse of DFM portfolios a third generation pension scam.