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 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

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Agile IT needed as rapid regulation change becomes the norm

Agile IT needed as rapid regulation change becomes the norm

'Gone are the lengthy consultation and rule-setting cycles that often took several years'

Paul Muir
clock 15 April 2024 • 6 min read
Leveling up the playing field when it comes to picking skilled persons

Leveling up the playing field when it comes to picking skilled persons

Given the prerequisite for accuracy, a rigorous selection process is essential

Richard Farr
clock 15 April 2024 • 4 min read
A practical way forward: Utilising hybrid to close the advice gap

A practical way forward: Utilising hybrid to close the advice gap

Will the FCA's advice/guidance review increase access to advice?

Chet Velani
clock 02 April 2024 • 6 min read