A Claims Management Company

Mis-Sold investment - Demontfort Professional Wealth

Latest Update: 27th January, 2017 (FSCS)

Case Points

Total amount invested

Unknown

Why did people invest in it?

Demontfort Professional Wealth Management was a financial advice firm based in Rugby, Warwickshire, between 2004 and 2015.

Why was it mis-selling?

The Financial Ombudsman Service ordered Demontfort to pay £13,700 related to failed due diligence in January 2016 over a SIPP invested with Sustainable Agroenergy.

Potential value of cases

Unknown

Summary

Demontfort Professional Wealth Management was a financial advice firm based in Rugby, Warwickshire, which was founded in 2004 by a group of Independent Financial Advisors. The firm operated until 2015, when it was dissolved.

They operated under FSA authorisation until 1st April 2013, when the FSA authorisation was replaced by the FCA. FCA authorisation was withdrawn on 1st May, 2013.

In January 2016, the firm was ordered to compensate a client who had been allowed to invest with Sustainable Agroenergy. The firm had allowed their client to make the investment, and attempted to argue that they had made the recommendation based only on the suitability of the SIPP wrapper itself, not its contents. The FOS rejected this argument, and ordered the firm to pay compensation based on the difference between the value of the pension pot and the value it should have attained if invested in a WMA income index.

The firm was declared to be in default by the FSCS in January 2017, meaning cases could then be brought to the FSCS by clients seeking compensation.

You are likely to have a potential claim on the basis of advice from a regulated firm. The claim above is only an example of a potential claim. Each claim is judged on its individual merits and as such, we cannot guarantee that your individual claim will be successful or that you indeed may have grounds for a claim.

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