fairline pension review

sw1960

Hello,
I have been contacted by fairline pension review to review my pension. Has anyone had any dealings with them? They send your authority off to blue Infinitas to check your pension. I believe they take a commission. Are they any good? thanks

Daniel54

sw1960 wrote: »

Hello,
I have been contacted by fairline pension review to review my pension. Has anyone had any dealings with them? They send your authority off to blue Infinitas to check your pension. I believe they take a commission. Are they any good? thanks

I have no experience but would strongly suggest avoid .They are unregulated and most likely just after your money,particulalry if they cold called you.Extract from website


"If you wish to receive financial advice, we suggest that you discuss your queries with an Independent Financial Adviser. We are not financial advisers and do not carry out regulated activities"

dunstonh

I have been contacted by fairline pension review to review my pension.

No genuine regulated company will cold call you to review your pension.

There are plenty of dodgy cold calling companies that lead on to pension transfer scams. Such as using totally unsuitable and unregulated investments (that frequently go on to fail)

I believe they take a commission.

Commissions have been banned to regulated advice companies. So, this should put you on guard (in addition to the fact you have been cold called.

I have yet to see anyone who has been cold called get a good result. I have two complaints I have put in against firms that cold called. I know a couple of other IFAs that have the done the same.

sw1960

Thank you for your replies. I will avoid them!

greenking_2

Unfortunately I was approached and agreed to a pension review by Blue infinitas
They sounded very good and all seemed well until my latest pension statement
-52,500 , yep seems like they poorly invested and within 12 months of me agreeing to them " helpin me they lost approx 75% of my pension pot.
More worrying was that they were tied in with James Hay who by all accounts were a reputable company which is why I agreed in the first place.?
Been unable to find much on the internet regards action group or the like. Not sure what to do next

magpiecottage

You will find details here.

Note that it has applied to cancel its authorisation.

If you are unhapply, I recommend you complain to info@blueinfinitas.co.uk . Do this immediately and, if you do not get a satisfactory response by about 24 November (or get a "final response" that you are unhappy with in the meantime, go to FOS.

It might also be worth sending an e-mail to consumer.queries@fca.org.uk to tell the FCA that this has happened and you note that the firm has applied to cancel permission. This is likely to slow that cancellation down.

DJDavey15

Sorry to say I've had much the same experience as 'greenking'. Blue Infinitas caught me at a very bad time & I fell for it, hook, line & sinker. I lost most of my pension too. Now trying to pick up the pieces & come out with at least something (anything really!).

magpiecottage

DJDavey15 wrote: »

Sorry to say I've had much the same experience as 'greenking'. Blue Infinitas caught me at a very bad time & I fell for it, hook, line & sinker. I lost most of my pension too. Now trying to pick up the pieces & come out with at least something (anything really!).

Advice is the same as above. Do it today and if necessary go to FOS. If you e-mail them over the weekend, the eight weeks to respond starts on Monday.

J-Box

I got taken in by the same scam and have just called the FCS and am waiting for the email to complete the forms to start the process. Can't believe I got taken in. My investment has decreased in value by 86%. Fortunately I have other pensions that are tied up and unable to move. Feel so angry right now...

dunstonh

It should be noted that Fairline /were not FCA regulated. So, the FSCS should not intervene when unregulated investments are put in place by unregulated firms. Fairline disolved on 3/11/15.

So, unless a regulated firm was involved in the provision of advice, there is not likely to be a happy ending.

AnotherJoe

And how do we know this isn't follow up scam whereby the saps lose the rest of their money in a fruitless chase after what they already lost. Reported as spam.