A Claims Management Company

Mis-Sold investment - Foreman Financial Services

Latest Update: 24th October, 2018 (FSCS)

Case Points

Total amount invested

Unknown

Why did people invest in it?

Foreman Financial Services was a firm of Financial Advisors based in Kent that was founded in October 2003.

Why was it mis-selling?

The firm was stripped of FCA authorisation in October 2017 after it refused to pay an award to a customer as ordered by the Financial Ombudsman Service.

Potential value of cases

Unknown

Summary

Foreman Financial Services Ltd was founded in 2003 by Wendy and Stephen Foreman. It was based in Tunbridge Wells in Kent, where it offered financial advice through a team of Independent Financial Advisors. It was authorised by the FSA from July 2004 until March 2013, followed by authorisation from the FCA between April 2014 and October 2017.

In October 2017, the firm was stripped of their authorisation to act by the FCA. The FCA undertook this action because Foreman Financial refused to make a payment awarded to a client by the Financial Ombudsman Service.

This payment to the client should have been made within 28 days of the 9th September 2016 when the Ombudsman upheld the complaint. After issuing numerous warnings, including a Final Warning on 12th September 2017, on the 23rd October 2017, the FCA issued the Final Notice that stripped Foreman Financial of their authorisation.

Following this decision, Foreman were forced to cease trading. By 10th of January 2018, a notice had been added to their website informing their clients that the firm would be closing down permanently. On 31st July 2018, the firm was officially dissolved, and in September that year, the firm was declared to be in default by the FSCS.

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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