The Resort Group
Did you invest your Pension in the Resort Group? If so then you may have a claim.
As with all overseas property schemes, investments in the Resort Group’s Cape Verde projects are high-risk, unregulated by the Financial Conduct Authority and should only be advised for “sophisticated investors”.
Yet with its star-studded opening ceremony, featuring Danielle O’Hara, Kerry Katona and Tinie Tempah, the tropical beach Meliá Dunas resort was presented to many people as the perfect investment opportunity. Hundreds of people were advised transfer their Pensions to SIPPs (Self-Invested Personal Pensions) in order to invest, despite the high-risk project being unsuitable for them.
As subsequently revealed by a BBC Panorama investigation, there was more going on behind the scenes. The Resort Group owned a marketing, Lifestyle Connections, which used cold-calling tactics to offer people a free Pension review – carried out by First Review Pension Services, an unregulated financial advice firm also owned by the Resort Group.
Advisors at First Review were filmed telling people that their existing Pensions were no good to persuade them to transfer to a SIPP and were found to earn 7% commission from the Resort Group for every investment they secured. This while claiming to act in the clients’ best interest, offering them an unsuitable investment.
If you have transferred your Pension, or part of it, into The Resort Group, give us a call today on 01782 493 750 to see if we can help. Alternatively, please complete the form on the right 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 01782 493 750 to see if we can help.