Gaudi Regulated Services Ltd (Gaudi), was a SIPP operator which provided or administered SIPPs which could also be branded and modified to suit other business partners.

The firm entered administration after it sold its assets to Platform One Ltd. Quantuma Advisory Ltd were appointed as Joint Administrators.  

Compensation Payments

Gaudi was subject to a number of complaints, which lead to compensation payments being due to clients.

Cases referred to 5G Wealth Management Ltd, (a UK company) which was a representative of FCP Insurance Consultants Limited, arranging a pension transfer into a SVS SIPP.

At the time the operator and trustee of the scheme was London & Colonial Services Limited. It delegated the administration of the scheme to Gaudi.

FCP were at the time regulated in the UK by means of an inward ‘passport’ from the Cypriot regulator – Cyprus being their place of business. The terms of this “passport”, however, only covered insurance mediation and did not cover the provision of pension transfer advice.

The Financial Ombudsman Serviced deemed that Gaudi hadn’t done enough to protect the clients’ pensions as they ignored the fact that the advisor firm did not hold the relevant permissions to give pension transfer or investment advice.

Another case referred to the introducer relationship with a firm trading as Dante Partners.

Dante Partners was a Financial Conduct Authority (FCA) regulated introducer who, at the relevant time, had been specifically restricted by the FCA from carrying on “any investment services and activities (to which MiFID applies) on a regular basis except reception and transmission of orders in relation to one or more financial instruments or investment advice

However, the firm was engaged by Affinity Global Developments Plc to promote its bond investments.

The Offer documents stated that the documents had been approved by Dante Partners LLP on behalf of its Appointed Representative, IPO Capital Partners Limited who act for Affinity Global Developments PLC only in their Bond offers and issue of securities.

Gaudi was aware that Dante Partners was promoting the investment on behalf of the investment company, so its role in the introduction was clearly not equivalent to providing independent financial advice to the client

It was the Ombudsman’s view that if Gaudi had considered the SIPP and investment applications fairly, it would not have accepted the application and the client would have not suffered losses.

Were You Mis-sold Your Pension Investment?

Did you swap your frozen or defined benefit workplace pension for a SIPP and lose money?

Were you misled by a financial advisor into transferring your frozen or defined benefits pension into the SIPP?

If so, you may qualify for mis-sold SIPP compensation.

Gaudi Regulated Services Ltd FSCS Claims

In order for the FSCS to be able to pay compensation, it must establish that Gaudi failed to act in your best interests.

The FSCS expects customers who were introduced by any FCA authorised and regulated firm to exhaust a complaint against that firm first, before submitting a claim to the FSCS.

They will not accept the case until the complaint against trading firms has been exhausted.

Consider Your Options

1. Review your current pension arrangements:

Review your latest pension statement to assess the extent of any potential losses or issues resulting from the pension transfer to Gaudi.

2. Seek professional advice:

Get claims advice by speaking to one of our financial mis-selling specialists for a free consultation and find out how you can claim back your money yourself free of charge or without paying extortionate fees!

3. Pursue compensation:

If you have suffered financial losses you can lodge a complaint with the FOS or submit a claim to the FSCS, depending on your eligibility and the nature of your losses

Ask Us For Help

If you had dealings with the company you should review all transactions and get in touch if you are not happy with the advice given to you or the performance of your investments.

By claiming compensation through the FOS or FSCS, you are finally taking your first steps towards regaining control of your financial future.