IFA to compensate client for Harlequin losses following unsuitable advice

Mr L, as referred to by the ombudsman, and his wife were introduced to Harlequin by an adviser from a third-party business that was an appointed representative of a firm regulated to give advice. Following several meetings and a sales pitch from Harlequin, Mr L decided to invest in four properties in 2009 - none of which were ever built. At around this point the couple was introduced to Pacific IFA, as the adviser firm they had been speaking with did not have permission to advise on pensions. At the time, in a meeting that was recorded, Mr L "had about as much [investment] understanding ...