Mr Hakes was advised to transfer his NHS pension into a Self Invested Personal Pension (SIPP), thereby losing all the accrued and future benefits he would have enjoyed under this scheme. Mr Hakes pension monies were then invested into Italian property funds, an investment that later failed.
Goodwin Barrett successfully claimed the maximum compensation of £50,000 from the Financial Services Compensation Scheme (FSCS) for a delighted Mr Hakes.