.png){kind=logo}
If you've been affected by a pension transfer to True Potential and are feeling confused, frustrated, or even betrayed, please know you're not alone and your concerns are valid. We understand that financial matters can be overwhelming, especially when they involve your hard-earned savings and future security. That's why we're here to explain the situation in plain, straightforward language, with empathy and understanding:What Happened?
True Potential Wealth Management, a financial services company, has set aside £100 million to compensate clients who may have suffered financial losses due to pension transfers that were not in their best interest. This action comes after investigations revealed that some clients were advised to move their pensions into True Potential's funds, which sometimes resulted in higher fees and lower returns. In certain cases, advisers who had existing relationships with clients recommended these transfers, and the Financial Ombudsman Service (FOS) determined that such advice was unsuitable.
Why Is This Important?
For many, pensions represent a lifetime of work and are crucial for a comfortable retirement. Being advised to switch to a fund that doesn't perform well or carries higher fees can significantly impact your financial future. It's not just about numbers; it's about trust, security, and peace of mind.
What Can You Do?
If you believe you were affected:
- Gather Your Documents:
Collect any paperwork related to your pension transfer, including communications with your adviser. - Seek Professional Advice:
Consider speaking with a financial adviser or solicitor who specialises in pension matters to assess your situation. - Contact the Financial Ombudsman Service:
They can provide guidance on how to file a complaint and seek compensation. - Reach Out to True Potential:
Inquire about the compensation process and express your concerns.
Finally, You're Not Alone
We understand how overwhelming and stressful this situation may feel. You might be angry, confused, or simply unsure of what to do next, and that's completely understandable. Please know, you are not alone. Many people are facing similar challenges, and there is help available. At MCLLP, we’re here to listen, guide, and support you through every step of this process. Our team specialises in helping individuals just like you get the clarity and compensation they may be entitled to. We use simple, jargon-free language and take the time to explain things clearly, so you can feel confident in every decision you make. If you’d like to speak to someone who genuinely wants to help, please don’t hesitate to reach out. You can contact us directly through our website here: www.mcllp.co.uk/contact
Your financial future matters. Let’s take the first step together.
