Another FOS decision has been upheld against Anthony Feeney Financial Services after the firm advised a client to put money into unregulated investments, PA has learned.
Smooth Commercial Law solicitor Scott Birchall told Professional Adviser the Birmingham-based advice firm had again been asked by the Financial Ombudsman Service (FOS) to pay compensation to one of his clients regarding facilitating unregulated investments into SIPPs. He told PA the client had been receiving cold calls and was approached to transfer his pension into a SIPP. The client was then advised to invest into unregulated investments schemes, including store pods. According to Birchall, the client was an "average Joe" saver who was not looking to invest adventurously. The claim...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes