Alderley Asset Management
Did you receive financial advice from Alderley Asset Management Limited? Did you make an investment based on their advice? Have you suffered a financial loss as a result of the poor advice offered by Alderley Asset Management? At Return My Money, we can help you claim to recover your lost funds. Call us today to speak with one of our claim’s specialists.
What is Alderley Asset Management?
Alderley Asset Management is a financial advisory firm that was based in Alderley Edge, Cheshire. The firm was known for providing negligent financial advice since 2014 when it first appeared in the news. Alderley Asset Management was first established in 1997 and it was originally known as Bankhall Financial Services Limited. In 2014, the Financial Conduct Authority (FCA) caught up with the activities of the firm and banned them from providing regulated financial services, such as pension switches and pension transfers. Later in the same year, Alderley Asset Management entered into insolvency proceeding which was completed in February 2015.
How Did Alderley Asset Management Mis-advise its Customers?
Reports about mis-sold SIPP investments by Alderley Asset Management started to hit the news back in 2014. At that time, 18 claims had been brought against the IFA. Alderley Asset Management had many connections to different types of high-risk investments that are commonly seen in SIPP pensions. The IFA is believed to have convinced its customers to transfer out of their existing personal pension schemes into SIPP’s, to invest in non-standard high-risk investments. The truth is that high-risk investments are not suitable for retail SIPP investors. They are only recommended to sophisticated investors who have a positive attitude towards risk or individuals earning more than £100k per year or individuals with assets worth £250k or more. If you do not fall in this narrow category, you are not eligible to invest in high-risk investments. If Alderley Asset Management recommended a high-risk investment and you were not eligible at that time, you were mis-sold a SIPP investment and you may be eligible to make a claim. Some of the high-risk non-regulated investments recommended by Alderley Asset Management include
- Ethical Forestry
- Premier Children’s Services
- Lomax Student Halls
- Dolphin Capital
- Ethical Forestry
Ethical forestry was an investment company that was located in Bournemouth. The company invested in tree plantations in Costa Rica. In 2005, the company entered liquidation and as a result, thousands of investors in the United Kingdom lost a lot of money. The investment entailed planting, cultivating and harvesting Melina Hardwood trees over 12 years. Investors were promised high yields, which were worth £104,000 at the end of the scheme. However, the results were not as promised. The tree plantation was damaged by the Hurricane Otto in 2016. Ethical Forestry was high risk and illiquid investment and was not an ideal choice for ordinary investors looking to grow their pension pot.
Premier Children’s Services
Investing in the Premier Child Services appeared to be a dream come true to the SIPP investors, especially due to the way it was marketed to them, usually through a cold call that offered a free pension review. Later, it turned out that Premier Children’s Services was a high-risk investment, even though it offered returns of between 8% to 10% interest depending on how one invested. In addition, the investment exposed customers to high risks and challenges, making it an unsuitable option for retail SIPP investors who had no experience in dealing with such types of investments.
Alderley Asset management is believed to have advised its customers to invest in high-risk property investments, such as Dolphin Capital and Lomax Student Accommodation. Dolphin Capital is struggling to pay returns to customers and Lomax Student Accommodation has already been valued at Zero by the Financial Services Compensation Scheme after suffering financial difficulties. If you feel Alderley Asset Management provided you with negligent financial advice, contact us now for a free no-obligation assessment on 0800 061 4585 and speak with one of our highly experienced claims experts. We will assess your case and help you make a successful claim.
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