A Claims Management Company
Total amount invested
Why did people invest in it?
Jackson Francis Ltd was a marketing firm that assisted Store First Ltd obtain investment clients.
Why was it mis-selling?
The firm cold called individuals with dormant pensions, and promised high returns to investors. The salespeople admitted to lying and forgery to the BBC in December 2015.
Potential value of cases
Jackson Francis Ltd was a firm founded in 2011 which served as an introducer for a number of investment opportunities include Store First Ltd. The firm contacted individuals with dormant pensions to persuade them transfer them to include investments with Store First, and they were paid by Store First Ltd for this service.
From 2011 onwards, more than 1000 individuals were convinced to move their pensions into the Store First scheme. These individuals were contacted via cold calling, which while not illegal at the time, was already a practice that was frowned upon. The company funding Jackson Francis was paid £33 million for their services as an introducer by Store First. On 11th September 2014, Jackson Francis Ltd was closed down and entered liquidation.
However, in 2015, the BBC interviewed a number of former salespeople from Jackson Francis. These salespeople told the BBC that they had been ordered to lie about the investment to get clients to sign up, and others admitted to witnessing forgery of client signatures. The owner of Store First, Toby Whittaker, maintained that Jackson Francis was only a sales agent and that he held no responsibility for their tactics used.
On 6th October 2016, following an investigation by the FCA, the Secretary of State accepted a disqualification undertaking for Stuart Grehan, the prior director of Jackson Francis. He was banned for 9 years for his offences.
This was due to the fact that he had been found to have: lied about his experience and expertise as a pensions transfer advisor; had failed to offer unbiased advice and had actively failed to act in the best interest of his clients; and had failed to adhere to a due diligence meaning clients never received returns that they had been “guaranteed” by Jackson Francis.
Jackson Francis Ltd have also been tied to an investigation by the Serious Fraud Office related to storage pod investments in which £120 million have been lost. As such, their insolvency remains ongoing.
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