A Claims Management Company

Mis-Sold investment - Professional Intermediary Introducers

Latest Update: 22nd January, 2019 (MoneyMarketing.co.uk)

Case Points

Total amount invested

Unknown

Why did people invest in it?

The firm was incorporated in February 2009, and was based in Barry, near Cardiff. It offered financial advice to its clients.

Why was it mis-selling?

In December 2018, the firm was ordered to pay £150,000 to a client related to an advised investment in the failed Harlequin Property scheme.

Potential value of cases

Unknown

Summary

Professional Intermediary Introducers Ltd was incorporated in February 2009 as a financial advice firm based in Barry, near Cardiff, in the Vale of Glamorgan. The firm offers financial advice services to its clients, including pensions and investment advice. It is authorised by the FCA under FRN 533102.

In December 2018, the firm was ordered by the Financial Ombudsman Service to make a payment to a former client of up to £150,000. This was related to an investment made in 2011, where the client was advised by the firm to invest 90% of her total pension in Harlequin Property. This amounted to £96,000.

Harlequin Property, managed by David Ames, offered clients the opportunity to invest in overseas property developments. Ames and Harlequin Property were investigated in 2017 by the Serious Fraud Office, and Ames has since been charged fraud in relation to activities between January 2010 and June 2015. This covers the period in which Professional Intermediary Services was advising their clients to invest in Harlequin.

The adjudicator in the case ruled that Professional Intermediary Services had failed to conduct appropriate due diligence in relation to the investment in Harlequin by their client, and in doing so that they had failed to act in her best interests.

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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