1 Stop Financial Services
1 Stop Financial Services - PCP Claims
The FCA website notes the following regarding 1 Stop Financial Services: “Between October 2010 and November 2012, (the) firm advised nearly 2,000 customers on switching their existing pensions (valued at in excess of £112 million) into SIPPs. The firm’s customers used the SIPPs to invest in products such as diamonds and overseas property which were typically not permitted by the customers’ existing schemes”.
Many of their clients invested in Harlequin Caribbean property developments. Their partners were fined a total of £490,100. The company was based in Pembrokeshire and anyone who was a customer of theirs and advised to transfer their pension into a SIPP may therefore may be entitled to claim back any money lost.
Grounds on which you may have been Mis-Sold
In order to determine if you are eligible for a SIPP compensation claim please check If any of the following statements is true in your case:
- 1 Stop Financial Services failed to explain the pension transfer & investment risks to you properly.
- Your financial situation was not properly assessed with a fact find by 1 Stop Financial Services.
- You felt uncomfortable or pressured by 1 Stop Financial Services into an investment that you didn’t need or want.
- They did not explain that the amount you get back will depend on performance.
- 1 Stop Financial Services did not accurately explain the fees and charges that would be incurred.
- You were unaware that 1 Stop Financial Services had advised you to invest in an unregulated investment.
- You were not advised by 1 Stop Financial Services about exceeding the £40,000 tax-free limit would make you liable for the 55% income tax.
- You feel that you were given poor advice by 1 Stop Financial Services concerning SIPPs which has left you worse off financially.
If any of the above points stand true, then it may be possible for you to get compensation.
How To Use The Calculator
Our pension redress calculators will give you an indication of how much your mis-selling refund could be worth. If your case is upheld, the exact value of your refund will not be known until all the facts of your case have been disclosed and a final figure calculated by the firm.
Enter your details into the red boxes
Ongoing Monthly (£) is optional if you continued to pay in each month after switching.
Choose your Growth Rate %Pa
Select the rate that you feel your previous pension was growing at. 3% Low, 6% Medium or 9% High rate.
Compare your values
See what your pension would have been worth if you had left it in the previous scheme vs. the new scheme. Choose to compare current value or value at your chosen retirement age.