Store First Storage Pods
If you’ve transferred your Pension Into a SIPP, and invested in Store First, then it could now be worth less than you think…
Many people across the country were delighted when they heard of the opportunity to invest in the new and exciting Store First Storage Pods. It was a concept like no other – sell the Storage Units to customers, and then they would be the ones to receive the rent (generally) as payments into their pensions.
Quentin Wilson (formerly of Top Gear) believed so much in this product that he went on TV to promote it. You can still find these videos on YouTube – not that we can share them here!
Store First convinced (via brokers such as Jackson Francis – again worth a google) thousands of Pension holders and investors that the value of their units would increase, by up to 8% per year, and that they would reap the benefits of the income for years to come.
Unfortunately, there was never really a ‘market’ for these types of units for them to make these kinds of assumptions, and as a result, as soon as any Storage Pod owners tried to sell, there were no buyers.
Investments that cannot be sold, are classed as ‘illiquid’ – now Store First storage pods are no different.
If you have transferred your Pension, or part of it, into Store First, give us a call today on 0330 113 5150 to see if we can help. Alternatively, please complete the form below and one of our dedicated claims specialists will call you back.
Was I Mis-Sold?
Each case is different, however as a rule of thumb, if your Financial Advisor did not take appropriate steps to make sure that you were prepared to accept the risks associated with each of the investments, and that you could be classified as a ‘Sophisticated Investor’, then it is likely you have a claim.
Give one of our Claim Specialists a call today on 0330 113 5150 to see if we can help.