Avacade Limited was a trading style of Alexandra Associates (UK) Ltd. The firm promoted pension transfers and subsequent investments into unregulated assets - such as offshore property or Forestry.
According to many of our clients, this firm worked by "Cold Calling" potential clients and offering something like a "Pension Review Service"
That usually resulted in a recommendation to transfer your pension
"In a case brought by the FCA, the High Court has ordered two companies and three individuals to pay a total of £10,715,000 in restitution to members of the public who were induced to transfer their pensions into self-invested personal pensions (SIPPs). " (From FCA Website)
"In a judgment dated 30 June 2020, the Court found that Avacade’s and AA’s activities were unlawful as they had engaged in the regulated activities of arranging and advising on investments, made unapproved financial promotions through their websites, promotional material and in telephone calls to consumers and made false or misleading statements"
(From FCA Website)
If you have been affected then you may have a number of options.
1. If you were advised by a regulated financial adviser as well, you may be able to complain to them, or the Financial Ombudsman Service, or the FSCS.
2. If you were placed into a SIPP then you may be able to make a similar claim against the SIPP firm. You can do this yourself. (Help Below)
If you make a claim yourself you will not need to pay a fee. However, if you wish to make use of our service, then we will charge a fee of 20% (inclusive of VAT).
Our two Partners - Gary Naylor and Ken Hanning, have decades of experience in financial services, and they are always available to hold a no obligation first conversation.
You can call them directly, free, on
0800 254 5066
or get in youch directly below.