Companies and individuals offering pension advice must follow a number of strict rules. This includes ensuring the products they offer are suitable for the investor, plus they must not mislead the investor in any way. TailorMade is a firm that failed on both these points.
This has left many unhappy and out-of-pocket former TailorMade clients wondering what they can do next. If you are one of them, we can help at Goodwin Barrett.
Start Claiming Back Money Lost to TailorMade Today
One of our advisors will be able to quickly assess your situation and will explain how we can help you claim for losses incurred as a result of a TailorMade pension. Please complete the form on this page and a member of our team will get back to you.
The Failures that Cost TailorMade Clients Millions
TailorMade was a company that provided advice to individuals on how to invest their pension funds in SIPPs. Much of that advice, however, involved making SIPP investments in unregulated assets and schemes.
Tailormade had over 1,600 clients and handled about £112 million in SIPP investments. The investments it advised people to buy were in things like overseas property (such as the failed Harlequin Properties investment), farmland, and biofuels.
Many people thought they were getting advice on safe investments that would protect their retirement fund and generate a return. They were misled in this regard as the investments were high-risk and many of them were completely unregulated.
The company has now gone bust and one of its directors has been fined for his conduct. The FCA believes Tailormade sold investments that were unsuitable for SIPPs. The regulator also believes Tailormade had conflicts of interest that it did not tell its clients about.
If you were mis-sold a TailorMade investment, please contact us today to learn more about getting your money back.