Mis-sold Cherish Wealth Investments
Cherish Wealth Management was an independent financial adviser, giving investors recommendations on where to invest their hard earned capital.
The firm entered administration in July 2016 and was declared in default by the Financial Services Compensation Scheme in February 2017.
The company has been linked to risky underperforming investments including Ethical Forestry and Invest US.
Even though Cherish Wealth Management is no long trading, if they advised you to invest your SIPP into high risk investments you may have been mis-sold and could be eligible to seek compensation.
Did you have a SIPP investment?
A self-invested personal pension (SIPP) is a scheme that gives you a higher level of control over your own pension. This means you get access to more choices on where you can invest your retirement fund, allowing you to manage your own investments and savings, rather than relying on a pension company or fund manager. The appeal of such a scheme is clear, but the risks associated with it are sometimes not made obvious to investors.
Mis-sold SIPPs have become the subject of an increasing number of complaints made to the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).