Have you dealt with Active Wealth Management?

Active Wealth Management were authorised by the Financial Conduct Authority (FCA) and were independent financial advisers (IFA) who gave advice to individuals regarding their pension and pension transfers.

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They gave bespoke advice to high net worth individuals and corporate organisations in regards to investments and retirement solutions and at one point were managing £100 million worth of client funds. 

Active Wealth has been identified as one of the firms involved in persuading members of the British Steel Pension Scheme (BSPS) to transfer out of their pension into a Self-Invested Personal Pension (SIPP). Whilst doing this Active Wealth took huge fees and let these individuals lose their pension benefits and money they had earned for retirement.

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Not only did they mis-advise many clients under Active Wealth Management. The director of Active Wealth previously worked for Active Investment Services which had two complaints lodged against them through the Financial Ombudsman for pension mis-selling and it appears he then moved on to do the same to hundreds more.

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The FSCS so far have paid out £1.1 million in compensation to former Active Wealth clients and more claims are still being brought against them.

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If you have dealt with Active Wealth Management in the past and received any advice regarding your pension or investments, please get in touch with us today. We offer a free check on your transfers and can quickly advise if you could be due compensation.