Mark first met with a St James’s Place adviser in 2018 to discuss his retirement planning arrangements. He had a pension with ReAssure which he had been paying into for a number of years. The result of this meeting was that Mark was advised to transfer his pension from ReAssure into a new Retirement Account with St James’s Place.

Mark saw our ad on the internet and contacted us asking if we could assist him in investigating whether it was good advice to move his pension to St James’s Place as he was recommended to do. Since making the transfer Mark had received no contact from his adviser and part of the agreement between the adviser and Mark was that in return for an Ongoing Advice Charge, he would receive a review of his personal and financial circumstances each year. Clearly, this had not happened.

We sent our claim to St James’s Place explaining why Mark should receive a refund of the charges he had paid and also any money lost by transferring his pension.

After investigating the case St James’s Place agreed with our findings and refunded the losses Mark had suffered and also the fees paid from 2019 until now, plus interest. Mark received the amount of £2,083.