Nationwide Benefit Consultants Ltd

Under investigation 24 June 2022

FRN: 624316

You might be eligible for compensation

FSCS is now considering customers’ claims against Nationwide Benefit Consultants Ltd (‘NBCL’).

NBCL was incorporated on 15 December 2011 and traded under the name of ‘The Pension Reporter’ from 29 May 2014. The firm ceased to be registered as an Appointed Representative with the FCA on 8 April 2016 and the company was subsequently dissolved on 14 August 2018.

Between 29 May 2014 and 8 April 2016, NBCL acted as an Appointed Representative of Joseph Oliver Mediação de Seguros, Lda (FRN 521370), a Portuguese firm regulated by the Instituto de Seguros de Portugal. Joseph Oliver Mediação de Seguros, Lda passported into the UK under the Insurance Distribution Directive.

NBCL was involved with advising on and/or arranging pension transfers and subsequent investment into the Trafalgar Multi Asset Fund. Trafalgar Multi Asset Fund is the subject of a Serious Fraud Office investigation – please refer to the SFO’s website for further information.

FSCS has been working with the FCA and the Financial Ombudsman Service to investigate the activities of NBCL.

The FSCS is now considering whether valid claims exist under its rules in connection with NBCL’s activities.

If you believe you received bad advice from NBCL, or that NBCL was involved in arranging the transfer of your pension benefits (defined benefits or personal pension etc) into a SIPP or QROPS, you can make a claim against the firm to the FSCS.

All claims will be considered on a case-by-case basis, to determine whether you are eligible for compensation.

The latest news regarding our investigation NBCL will appear on this page. We will update this page as our investigations progress. Customers should subscribe to this page to receive the latest updates.


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