Quilter caught up in Harlequin pension transfer claim

Invested with Berkeley Burke

clock • 2 min read

Quilter Financial Services will compensate a woman who diverted her pension into failed property scheme Harlequin under the advice of a firm Quilter since acquired.

Mrs C, as referred to by the Financial Ombudsman Service (FOS), complained about advice she received from an appointed representative of Intrinsic Financial Planning, now Quilter, in 2010. Under the firm's advice, Mrs C switched two existing personal pensions worth a combined £50,000 into a self-invested personal pension (SIPP) with Berkeley Burke and paid £42,000 into Harlequin. Berkeley Burke SIPP administration has since fallen into administration fighting claims related to its due diligence obligations on unregulated investments. Mrs C had attended a seminar on the property scheme...

To continue reading this article...

Join Professional Adviser

  • 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.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Treasury Committee chair Harriett Baldwin has tabled an amendment to the Financial Services and Markets Bill that could see the creation of a personalised financial guidance regime in the UK.

Harriett Baldwin tables 'personalised guidance' amendment

Firms could give guidance without straying into regulated advice

Jenna Brown
clock 25 November 2022 • 2 min read
What the regulator's ESG 'label regime' means for advisers

What the regulator's ESG 'label regime' means for advisers

Aims to improve trust in sustainable investment products

Alexander McGregor
clock 25 November 2022 • 3 min read
FSCS predicts drop in overall levy to £478m for 2023/24

FSCS predicts drop in overall levy to £478m for 2023/24

Levy for 2022/23 to remain at forecast £625m

Jenna Brown
clock 24 November 2022 • 2 min read