Go-BMV - Pension Review

Hazy0_0

Hi everyone,
Has anyone been approached by a company called go-bmv.

They asked me to fill in forms with my pension details so they can give me a summery of my pension and how much it's costing me a year in fee's etc.

I tried to check them out before sending this information, anyone can put up a website, I can't find any other info.

Is this legit?
Anything free is always to good to be true!

Thanks

[Deleted User]

The company is ran by a man called Jim Cook, from the website:

GoBMV is not licensed or regulated by the Financial Conduct Authority and does not provide financial advice. We strongly recommend that you seek appropriate professional advice before entering into any contract.

Personal information in any pension review is a matter of record and is provided by Investaco, our associate company, who is regulated by the Financial Conduct Authority. Any requirement for pension advice will be passed to Investaco

From the LinkedIn profile for Mr. Cook it appears that he is the managing directory of "investaco", so it does seem that they are a genuine investment company, or at least they're not some sort of scam... they're on the FCA register with the number 300343.

However, a few seconds with google returns multiple confidential documents hosted on their server that have been left visible to the public which to me is not a good sign about their security.

Generally unsolicited advice is not a good sign and reviewing their website (and the leaked documents) it looks likely that what they will do is tell you that you're over paying for your pension, then they'll mention how they know of lots of really great property investments with high yield that you can buy into through your pension and they won't charge you a penny for it! I'd steer clear.

Former_MSE_Zorica

Hi everyone,

Go-BMV have asked us to post the following on their behalf. MSE does not endorse anything posted for a company.

GoBMV would like to make it very clear that no personal details were made available and at no time was our clients’ personal data at risk. The documents in question principally related to marketing brochures and other product details and have since been removed.
In addition, please note that GoBMV would not make these comments as the Company does not provide (and is not authorised to provide) investment advice.
The authorised financial advisors with whom we have dealings are fully regulated to provide investment advice and have a legal responsibility to act in the customers best interests. Indeed, they will frequently advise people to continue with their current arrangements and take no further action.

Finance_Sentinal

This is an unregulated firm who offer high risk highly illiquid investments,via regulated advice firms. These investments are not covered by the FCA or the Financial Ombudsman. Most investments are situated in foreign countries offering high returns that cannot be guaranteed or substantiated. They are only suitable for very wealthy or very financially astute individuals, even then no more than 10% of total assets should be invested and they are not appropriate for the vast majority of ordinary investors.

dunstonh

The FCA has issued a consumer warning about cold calling firms offering "free" pension reviews. Effectively telling people not to do it.

http://www.ftadviser.com/2014/05/21/regulation/regulators/fca-warns-against-free-pension-reviews-cold-calls-g0CWNduQz1lR8ebIzjwtFJ/article.html

FOS stats published in the last week have shown that unregulated investments account for 75% of SIPP cases last year and that 63% are upheld.

DO NOT ENGAGE WITH THESE COLD CALLING COMPANIES