Consumers who believe they may have been mis-sold by Berkeley Independent advisers may now be entitled to compensation through the Financial Services Compensation Scheme.
Consumers who are previous clients of the firm in liquidation are now eligible from today for compensation should a claim be upheld for negligent advice by BIA intermediaries, as the firm has been officially declared in default. A spokesperson for the FSCS says it is aware, at this stage, of approximately 300 policyholder compensation claims against BIA Ltd. The bulk of these relate to potential endowment mis-selling, while others are claims for alleged investment bond and pensions mis-selling. The assets of BIA – recently known as BBB Network Ltd – were sold to Tenet Group in March 2...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
