Elysian Fuels Investment Claim
This was sold as an investment in renewable energy projects, such as biofuel, in the UK and the US. However, in 2015 the company’s shares were valued at zero and the investments have therefore lost millions.
Almost £200 million was invested in this scheme and it seems highly likely that thousands of UK based customers will have lost their savings and pensions as a result. Many customers were incorrectly identified as being high risk takers and high net worth individuals when this was not the case. This is an investment that has been identified as “high risk and inappropriate.”
The Financial Ombudsman Service has identified assets held with Elysian Fuels to be illiquid and leaving the customer unable to access their money. This is clearly unsuitable, and unfair, for many customers. If you were encouraged by an Independent Financial Adviser to transfer your pension to a SIPP that included investment in Elysian Fuels, you could well be entitled to claim this was mis-sold. Contact us at the number above to speak to a dedicated adviser who is experienced in these matters or fill out the form below and we will get back to you.
Grounds On Which You May Have Been Mis-Sold a Elysian Fuels in your SIPP?
In order to determine if you are eligible for a SIPP compensation claim please check If any of the following statements is true in your case:
- Elysian Fuels did not explain the pension transfer & investment risks to you properly.
- Your financial situation was not properly assessed with a fact find by Elysian Fuels .
- You felt uncomfortable or pressured by Elysian Fuels into an investment that you didn’t need or want.
- Elysian Fuels did not explain that the amount you get back will depend on performance.
- Elysian Fuels did not accurately explain the fees and charges that would be incurred.
- You were not unaware that Elysian Fuels had advised you to invest in an unregulated investment.
- You were not advised by Elysian Fuels about exceeding the £40,000 tax-free limit would make you liable for the 55% income tax.
- You feel that you were given poor advice by Elysian Fuels concerning SIPPs which has left you worse off financially
If any of the above points stand true, then it may be possible for you to get compensation.
Pension Redress Calculator
How To Use The Calculator
Our pension redress calculators will give you an indication of how much your mis-selling refund could be worth. If your case is upheld, the exact value of your refund will not be known until all the facts of your case have been disclosed and a final figure calculated by the firm.
1. Enter your details into the Red Boxes.
Ongoing Monthly (£) is optional if you continued to pay in each month after switching.
2. Choose your growth rate %pa.
Select the rate that you feel your previous pension was growing at. 3% Low, 6% Medium or 9% High rate.
3. Compare your values.
See what your pension would have been worth if you had left it in the previous scheme vs. the new scheme. Choose to compare current value or value at your chosen retirement age.
I Think I'm Eligible, What’s The Next Step?
The next step in this process is perhaps the most critical step as you have to file a mis-sold pension letter with your pension provider or adviser.
If you invested in SIPP investments that left you out of pocket, you may have been mis-sold.
Our team of SIPP claim specialists can help you recover compensation if you were given unsuitable advice regarding what to invest in and the risks involved through SIPPs.
Please get in touch with us if you have any questions regarding your SIPP and how it was sold to you. We are happy to discuss any concerns and start a free SIPP claim assessment for compensation.
Even if the financial adviser who sold you the investment or the firm(s) you invested in are no longer trading, our experienced team may still be able to recover some of your losses. Get in touch and discuss your case with us.
Alternatively you can call us on FREEPHONE 0800 310 1520 to speak to one of our team members who are available Mon-Fri 9.00am - 5.30pm.