Were You Mis-sold Investments in Overseas Property?

With mis-sold pension claims growing every year it is now estimated that up to 1 in 3 pensions were mis-sold due to bad advice and poor investments. Investors were led towards high risk, non-standard investments by financial advisors who were at best incompetent and at worse greedy. One of the most common scenarios being seen in compensation claims is that of investors who were advised to take their secure pension savings and move them into SiPP’s which invested in high-risk products, promising high returns. These high-risk products inevitably failed and left people with huge losses from their retirement funds. 

One very common high risk SiPP investment was in overseas property. Many financial advisors were pushing this type of investment, promising unfeasibly high returns but it was totally inappropriate for a retirement portfolio as it came with a lot more risk than investors were led to believe. Indeed, whilst there may be some overseas property investments that do grow your pension fund, here at Portfolio Legal we have acted on behalf of many clients who have been the victim of mis-sold overseas property investments and seen losses after transferring their hard-earned pension pots into Sipp’s containing property investments. In a few cases, clients have actually lost everything, which is absolutely devastating for the people involved. Thankfully, when this happens, compensation is available and people are able to get back most, if not all of their money.