The High Street Group - Self Administered Pension Scheme

Scooby667

I was wondering if anyone has come across a scheme through The High Street Group where you release a pension that you no longer contribute too where you basically set up a company in your name (a small self administered scheme) and they contact your pension fund and if you go ahead the funds released can be spread across the following 3 investments;
High Street Boutique. (10% p.a. return)
Dolphin Capital Ltd. (13.8% p.a. return)
The Resort Group. (8% p.a. return)

In the example I have an estimated pension value of £130,000 and I am 51 years old.
By age 65 and investing across these 3 companies based on their current yield ranging from £360,000 to £740,000 depending on which company you put most money in.
I have a second meeting next week and while it all looks good and I have looked up High Street Group online I can't find details regarding this although I believe it is a new scheme just launched. Just have a nagging small doubt that it sounds too good to be true.

Anyone have anything to contribute ???

greenglide

It has to be a scam!!

Drp8713

Please dont do it.

[TEXT DELETED BY THE FORUM TEAM] you will lose all your money.

One of the companies mentioned Dolphin has been discussed before

http://forums.moneysavingexpert.com/showthread.php?t=4547063

Linton

Scooby667 wrote: »

........ Just have a nagging small doubt that it sounds too good to be true.

Are your doubts really just "nagging" and "small"?

No-one can honestly offer a safe >8% return. Why would they when they could have people queuing to invest at a safe 5%? Have they indicated that you may lose some or all of your investment?

I cant find any reference to them or the High Street Group on the Financial Services Register which would suggest that they are not registered. The Financial Conduct Authority website says:

"We strongly advise you to only deal with financial services firms that are authorised by us or registered, and check the Register to ensure they are."

kidmugsy

I think we're having our legs pulled, chaps. The clue is in the name.

Freecall

kidmugsy wrote: »

I think we're having our legs pulled, chaps. The clue is in the name.

Pulled, more like amputated.
:rotfl::rotfl:

Scooby667

Thanks for the replies.

Just for info there is a website for High Street Group (based in Newcastle)
Also found UK website for High Street Boutique Finance.

Triumph13

Your exam question for today:

A company has a safe business opportunity it needs to finance. Rather than just borrow the money from a bank, it spends a huge amount of effort and money trying to attract retail investors so that it can pay them much more interest than it would have to pay the bank. Are the company's directors:

A: Philanthropists
B: Really bad at maths
C: Stupid
Lying about the risk
E: Crooks

Write your answer on the back of a signed and dated blank check and send it to me care of MSE.

gadgetmind

I guess this goes to show that pensions aren't fool proof, merely fool resistant.

flearida

seems this high street group are cold calling people,i just got a phone call ,from them,less than 20 mins ago,i dont think,ill take it any further.

dunstonh

All you need to remember is that if you get a cold call on pensions, then it is almost certainly dodgy. Reputable firms do not cold call on pensions.