The FOS has upheld 22 complaints against Glamorgan-based Kingswood Financial Advisors since 2015, each linking the firm with failed unregulated investment scheme Harlequin.
The Wales-based advice firm started receiving complaints through the Financial Ombudsman Service (FOS) back in 2015, when it received two in relation to its involvement in purchasing Harlequin properties through self-invested personal pensions (SIPPs). In 2016, the number of complaints rose, with a further 13 complaints in relation to Harlequin. Another four came in 2017, and the firm has received an additional four so far this year. Kingswood has repeatedly come under fire from the Ombudsman for the role it played in opening up a SIPP which the customer then used to invest in Harlequ...
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