Strand Capital

Strand capital entered insolvency proceedings in May 2017. This was highly significant as the investment firm was responsible for more than 3000 customers and £80 million worth of funds.

In theory all client money should be returned, however there does not appear to be any guarantee that this would be the case. The FSCS felt it necessary to release a press statement in May 2017 that the situation was being investigated to try and return as much customer money as possible.

If your funds were held by Strand Capital or you have dealt with them in the past this may be a indicator you are entitled to compensation. As the FSCS have issued a press release about this, this would certainly suggest they are aware of the significant issues around this firm and how this could affect customer funds.

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You may have an eligible claim for compensation if

  • You were encouraged by your financial adviser to change your investments without a proper explanation of the reasons why you should be doing this.
  • You were assured that your SIPP pension value would increase by your financial adviser but has fallen.
  • You were not properly informed of the factors which could result in a reduction of the value of investments
  • You felt uncomfortable or pressured by your financial adviser into an investment that you didn’t need or want.
  • The pension transfer & investment risks were not properly explained to you by your financial adviser.
  • Your financial adviser did not properly assess your financial situation by carrying out a fact find exercise.
  • At no time did your financial adviser make you aware that your funds were being invested in an unregulated investment.
  • You feel that you were given poor advice by your financial adviser concerning SIPPs which has left you financially worse off.
  • Information was not provided by your financial adviser about exceeding the £40,000 tax-free limit would make you liable for the 55% income tax.

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