Active Wealth (UK) Ltd Compensation Claims Guide

Active Wealth (UK) Ltd based in Glossop, Derbyshire, have now ceased trading. Mis-selling and financial misconduct led to the independent financial advice company being suspended from accepting any new clients on pension business by the Financial Conduct Authority (FCA), and also led to its director, Darren Reynolds, being disqualified from being a company director for 13 years.

The company was dissolved at Companies House in March 2018.  The Insolvency Service concluded that Active Wealth (UK) Ltd’s clients lost over £24m in unregulated investments.  

The Financial Services Compensation Scheme (FSCS) has paid out millions of pounds to investors because of the bad investment advice that they received from Active Wealth (UK) Ltd.

If you had Active Wealth (UK) Ltd handle your pension transfer or SIPP investments, you may be entitled to compensation. 

It is not too late to make a claim for a mis-sold pension transfer. We can help you make a claim and get some money back from that FSCS money pot. Because that’s what it’s there for. Ordinary men and women just like you.

What did Active Wealth (UK) Ltd do wrong?

Active Wealth (UK) Ltd recklessly advised nearly 300 ordinary men and women (not knowledgeable or super-wealthy investors)  on how to invest their pension funds between December 2014 and February 2018. Many of these people were hard-working British Steel workers, they were the last people to be able to afford to lose their pension pots.

Darren Reynolds at Active Wealth (UK) told good, hard working people to transfer their pensions to risky Self-Invested Personal Pension Schemes (SIPPs), putting all their funds into a portfolio of investments in corporate bonds called Portfolio Six. 

Portfolio Six investments, run by Greyfriars Asset Management, included very high-risk unregulated overseas property-based corporate bonds. 

Worse than mis-selling these high-risk investments through SIPPs without warning ‘small’ investors of the risks, Active Wealth (UK) failed to declare they had a conflict of interest as its company’s directors were associated with companies within Portfolio Six. 

Reynolds furthermore falsely declared his clients’ investment experience (as these type investments were only available for ‘experienced’ investors), and also the financial risks that they were willing to take.

British Steel Pension Scheme Compensation Claims

Active Wealth (UK) Ltd is associated with claims regarding the British Steel Pension Scheme (BSPS). Steelworkers were advised to transfer out to a private SIPP pension with Momentum Pensions amongst others, thereby losing the benefits they’d already built up in the British Steel Pension Scheme. 

If you are a steelworker and you were encouraged to move your pension to a SIPP by Darren Reynolds/Active Wealth (UK) Ltd, you could be entitled to compensation.

Can I Make an Active Wealth (UK) Ltd Claim?

You could be entitled to compensation if Active Wealth (UK) Ltd got you to transfer your person to a SIPP or make another type of high-risk investment. 

The FSCS has already paid out millions in compensation for Active Wealth UK’s mis-selling of investments via SIPPs. 

If you are entitled to make a claim under the scheme, you should do so. If you are one of the many ordinary people who received negligent financial advice from Active Wealth Services, you should act now.

The FCA said Active Wealth (UK) Ltd Should Have Warned People SIPP Pensions Were High Risk

The FCA has said ordinary investors – those with  limited knowledge about financial services and investments – should have been given very clear and simple-to-understand information about their investments along with warnings where relevant and Active Wealth repeatedly failed to do this, but misrepresented it had. 

High-risk investments must always come with proper warnings. If Active Wealth (UK) Ltd advised you to transfer to a SIPP then you may have a claim and we can help you get compensation. 

A financial advisor’s negligence (or fraud) means a pension transfer is mis-sold. Where something is mis-sold there is a claim. Where there is a claim there is compensation.

See how much compensation you could get from the FSCS

Contact us today and see how much compensation you could be entitled to. 

You can get a free initial check to see if Active Wealth (UK) Ltd mis-sold to you. Have a chat with a member of our friendly, trained team who can quickly assess whether you have a claim. 

This check will not put you under any obligation to use our service. 

Knowledge is power! Find out today about making a claim against Active Wealth (UK) Ltd.