Adviser claims victory in Cape Verde pension claw-back

Ark Financial Planning principal Phil Stevenson claimed victory on 17 November when the pension was handed back to the client after several months of chasing. He said of the £118,000 pension pot invested, the firms involved returned about £115,000, with the rest deducted in charges. The funds had been invested in an unregulated property development scheme, The Resort Group, which sells freehold ownership of yet-to-be built hotel rooms, suites and apartments to individual investors via third parties. Stevenson's client, who was an MS sufferer and considered 'vulnerable', had been persu...