The dirty dozen: 12 early warning signs an investment is a scam

HiRes 150pxHardly a week goes by without the financial press reporting another huge fine for a bank, an investment that has failed, or a ruling by the Financial Ombudsman Service in favour of an investor. So how do you spot a scam? What are the tell-tale signs? How can you avoid losing your life savings? Here are the dirty dozen, 12 early warning signs to look out for: #1: Cold callers and unsolicited texts Receiving an unsolicited call or text message, which offers you an investment opportunity or a “free pension review” (more ...

Guest Blog: Why the latest FOS ruling isn’t a ‘game changer’ for SIPP providers

Guest Blog AJ Bell 150pxIn his first Guest Blog for Investment Sense Gareth James, Technical Resources Manager at AJ Bell, looks at the latest ruling from the Financial Ombudsman Service, which has divided the Self-Invested Pension industry. It was with a slight sense of trepidation that I took on Investment Sense’s invitation to consider whether the Financial Ombudsman Service’s decision to uphold a complaint in respect of a Sustainable AgroEnergy investment could be described as a game-changer for the SIPP industry. It is worth considering what the term game changer means. ...

SIPPs: Ombudsman finds against SIPP provider in landmark ruling

Financial Ombudsman ServiceThe Financial Ombudsman Service (FOS) has upheld a complaint made by an investor, in a ruling which could have wide ranging implications for other SIPP providers and investors. The FOS has ruled against Leicester based SIPP (Self-Invested Personal Pension) provider Berkeley Burke, following a complaint made by an investor into an unregulated biofuel investment scheme, Sustainable AgroEnergy, in 2011. Have you been mis-sold a SIPP investment?...

SIPPs: Warning for investors as complaints rise

SIPPs: Warning for investors as complaints riseThe Financial Services Compensation Scheme (FSCS) has reported a rise in the number of complaints relating to SIPPs (Self-Invested Personal Pensions) and at the same time has issued a warning to investors. The FSCS compensates investors for poor advice, when a complaint is upheld, but the original adviser is no longer trading. Figures released this week show that complaints relating to pensions and investments are up 15% over the past year. The FSCS has said the increase is down to the number of complaints relating to ...