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The FSCS has joined forces with the FCA and Monetary Ombudsman Service to analyze a Telford-based pension switch adviser with hyperlinks to a Portuguese expat specialist firm.
The FSCS says it’s now contemplating prospects’ claims towards Nationwide Profit Consultants Ltd (NBCL).
NBCL is not a registered agency however its tackle is listed on the FCA Register as M54 House Centre, Telford, Shropshire.
NBCL was included as a enterprise on 15 December 2011 and traded below the identify of ‘The Pension Reporter’ from 29 Could 2014. The agency’s web site is not lively.
The agency ceased to be registered as an appointed consultant with the FCA on 8 April 2016 and the corporate was dissolved on 14 August 2018, the FSCS stated.
NBCL acted as an appointed consultant of Joseph Oliver Mediação de Seguros, Lda (FRN 521370), a Portuguese agency regulated by the Instituto de Seguros de Portugal, between Between 29 Could 2014 and eight April 2016.
Joseph Oliver Mediação de Seguros, Lda passported into the UK below the Insurance coverage Distribution Directive permitting it to transact enterprise within the UK. The agency significantly focuses on expats seeking to retire to Spain or Portugal.
The FSCS stated that NBCL was concerned with advising on and/or arranging pension transfers. Cash from the transfers was invested within the Trafalgar Multi Asset Fund. Trafalgar Multi Asset Fund is now the topic of a Severe Fraud Workplace investigation.
The FSCS is working alongside the FCA and the Monetary Ombudsman Service to analyze NBCL and is now contemplating whether or not legitimate claims will be made by ex-clients of NBCL.
The FSCS is asking ex-customers of NBCL to get in contact in the event that they obtained unhealthy recommendation from NBCL or in the event that they consider that NBCL was concerned in arranging a switch of pension advantages right into a SIPP or QROPS plan.
Claims might be thought-about on a case-by-case foundation.
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