Portuguese-based firm to appeal FOS decision for UK client SIPP transfer advice
Unregulated investments
Portuguese firm Abana has been asked to compensate a UK investor by the FOS.
A Portuguese advice firm has been asked to compensate a UK investor who embarked on a high-risk investment strategy for her pension based on unsuitable advice, the Financial Ombudsman Service (FOS) has found.
The client, referred to as Mrs C, claimed an adviser from Portugal-based Abana Unipessoal's UK subsidary persuaded her to switch her personal pension into a self-invested personal pension (SIPP) in 2014....
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