Designed 4 Life LTD Has Entered Liquidation
Designed 4 Life Limited, an IFA located in Portsmouth, is yet another IFA to go into liquidation. Currently, three Financial Ombudsman Service complaints pertaining to SIPP advice have been upheld. It’s possible that there are more claims yet to come.
The complaints made against Designed 4 Life all pertain to pension transfers into a SIPP that contained a Harlequin Properties investment. This investment is currently valued at £1 and is an excellent example of the problems associated with unregulated, high-risk investments.
The experts at theYEC know that Harlequin Properties is just one of the unregulated, high-risk investments that Designed 4 Life advised clients to transfer their pensions into. It’s likely that many other people were sold a pension setup that could put their retirement fund at risk.
Was Designed 4 Life mis-selling pensions?
According to the Financial Ombudsman Service, at least 3 IPP-type pensions were mis-sold by Designed 4 Life. There are 4 more Ombudsman decisions on the way.
That doesn’t necessarily mean that Designed 4 Life mis-sold your pension, but it is a sign that you should have your case assessed. The company is entering liquidation in July of 2016, and a mis-selling scandal appears to be brewing. This is the ideal time to consider making a claim. If you act quickly, you may be able to recover any lost retirement funds.
Can you make a successful claim against Designed 4 Life?
It’s possible that you have a claim against this IFA if you…
The only people that should be transferring their pensions into high-risk investments are Sophisticated Investors with extensive investment experience or individuals with a high net worth. This includes investors with more than £250 of investible assets or a salary of over £100k per year.
If you don’t fall into one of these categories, you’ll want to take a closer look at the advice you received from Designed 4 Life. You may have a case against them.