Ethical Forestry

Have you invested your SIPP
with Ethical Forestry Ltd? You could
be eligible for compensation.

you may have been mis-sold investments by Ethical Forestry

Mis-sold Ethical Foresty Investments

Ethical Forestry Ltd, a Bournemouth based investment provider investing in a plantation of trees in Costa Rica, went into liquidation back in 2015. As a result of this, thousands of UK investors may have lost considerable sums of money they had earmarked for private pensions.

The investment model, based on the planting, cultivation and harvesting of Melina Hardwood over 12 years, was pitched to investors as a secure, high-yield and environmentally-friendly opportunity with a potential return of up to £104,000 at the end of the scheme. However, the investment was not as secure as it was billed to be, as the trees were still at risk from timber diseases, pests, natural disasters, bad weather, changing prices of timber and local political changes. The liquidation of the company and an investigation by the SFO (Serious Fraud Office) left investors unsure of the value of their investment, and difficulties were furthered by serious damage caused to the plantation following Hurricane Otto in 2016.

As Ethical Forestry Ltd investments were high risk, and illiquid, they weren’t suitable for ordinary investors looking to grow a pension pot. In these cases it is possible for customers to seek compensation and recoup some of their losses.

 

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).

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Do you think you’ve been mis-sold?

If you have invested your pension pot in a SIPP scheme and you’re now suffering as a result, or even if you haven’t yet lost money but suspect something isn’t quite right, check your situation against the following criteria to see if you’ve been mis-sold:

  • Pressure Selling
    Were you pressured into investing your pension into something you didn’t want or need?
  • Unsuitable Scheme
    Were you advised to transfer your existing private pension fund to a new, higher return scheme even though it wasn’t suitable for your needs?
  • Unexplained Fees
    Were there any surprise fees or additional costs attached to the investment that you weren’t made aware of from the start?
  • Unexplained Risks
    Were there certain risks attached to your SIPP that you were not informed of when you agreed to invest?
  • Lost Investment
    Have you made significant losses as a result of any of the above issues?

If any or several of the above points sound familiar to you then fill out our simple contact form or give our experienced team of solicitors a call and let us help you.