24 February 2021 | Comment | Article by Ria Coleman

Were you advised by Birmingham based Estate Matters Financial Limited to transfer your defined benefit pension scheme?

Were you advised by Birmingham based Estate Matters Financial Limited (“EMF”) to transfer your defined benefit pension scheme?

It has been reported that the Financial Conduct Authority (“FCA”), the financial industry’s regulator which strives to protect consumers, has issued High Court proceedings against Paul Steel and his partner. Mr Steel was the co-owner and Director of the now liquidated EMF which is reported to have breached numerous legislative requirements under the Financial Services and Markets Act 2000.

In essence, the FCA is asking the Court to direct Mr Steel to compensate EMF’s former clients who received negligent advice to transfer their defined benefit pension schemes, thereby losing a series of benefits and sustaining financial loss.

This comes in light of sustained concern, industry wide, about the unsuitable advice being provided in the defined benefit market. 

If you are concerned that you were mis-advised by EMF or any other firm, contact the Financial Mis-Selling team today for a free, no obligation chat.

 

Disclaimer: The information on the Hugh James website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. If you would like to ensure the commentary reflects current legislation, case law or best practice, please contact the blog author.

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