Writing in Citywire today (14/08/2019) Jack Gilbert reveals that Black Star WM have received 99 Financial Ombudsman (FOS) Complaints since 2011.
The Financial Conduct Authority (FCA) register entry for Black Star Wealth Management reveals that they have had their permissions to conduct pension transfers removed.
This collapsed Discretionary Fund Manager (DFM) was used by Black Star Wealth Management - and clients were also placed into Self Invested Personal Pensions (SIPPs) which then allowed investments into unregulated assets.
Black Star WM placed clients into a number of unregulated high risk assets including:
Colonial Capital Group PLC Corporate Bond
(Based in Chicago and failed in 2017)
Alpha Business Centre (ABC) Bond
(Dubai based property group now in liquidation)
(Failed caribbean property investment)
If you were a client of Black Star Wealth Management you can make your own complaint directly to the firm. If they reject your complaint you should then be able to complain via the Financial Ombudsman Service.
Alternatively you can choose to use our No Win No Fee service - we will only charge you our fee of 20% incl. VAT if we win compensation for you.
You can speak directly to our experienced Partners, Gary Naylor or Ken Hanning today. Just call free on 0800 254 5066 - or email Gary and Ken directly using the form below.
They will be very happy to talk through your experiences with you, and let you know if we believe that you may have a valid claim.