If you are eligible to make a Dolphin Trust mis-selling claim, we can help. Here’s more information about this case.
Dolphin Trust was a German property group that borrowed nearly £600 million by persuading UK pension holders to invest their money into derelict listed German buildings, which the company claimed it would later develop. Why was this considered such a lucrative prospect for UK pension holders?
Since the fall of the Berlin Wall, the German Government has offered beneficial incentives to those wanting to develop listed buildings, including large tax breaks. During this time, Dolphin Trust, through financial advisers and agents, convinced potential investors that their money would be protected by the ‘First Legal Charge’. This is a document similar to a mortgage, which ensures the investor should get a full refund from the borrower if they fail to repay.
A recent investigation from the BBC found that many UK residents were encouraged to lend their life savings to this unregulated property scheme for up to five years by advisers who were working for different companies at the time. The main reason for this was commission, some even earned up to 20% for their negligent advice.
In essence, because the Dolphin Trust was not regulated by the Financial Conduct Authority, and it was a high-risk investment, many investors’ life savings had been put at unnecessary risk. The Trust is still in operation as the German Property Group (GPG).
Yes. Many financial advisers, as well as the Financial Services Compensation Scheme (FSCS), have already paid out compensation to those who were mis-sold by the Dolphin Trust. You could be eligible for compensation if you:
Given the high level of risk involved in this unregulated investment, it should have been clearly communicated to possible investors, especially if they were putting their pensions on the line. It is the responsibility of a financial adviser to ensure their client has enough experience in investing and money to undertake the risk of this type of investment.
Unfortunately, many advisers did not perform their due diligence on the investment and their customers, resulting in many mis-sold Dolphin Trust SIPPs. With that in mind, if you think you might have been provided with unsuitable and careless advice to transfer your pension to a Dolphin Trust investment or feel the adviser did not do their job correctly in making you aware of all the possible pitfalls, we can help.
Our team of investment claim experts at Keller Postman UK is well-equipped with the knowledge and experience to handle your mis-sold Dolphin Trust complaint.
Contact us today and we can help you start your claim against the Dolphin Trust and secure the compensation you deserve for your financial losses.
Where multiple people have received negligent or fraudulent pension advice from the same professional advisor/company, we can help them to recover their losses collectively. Group actions can be a powerful tool and can have a bigger impact than a single claim.
CONTACT US TO DISCUSS A PENSION MIS-SELLING GROUP ACTION CASE