TLW Solicitors' Partner Peter McKenna Discussing
Dolphin Trust GmbH SIPP Claims on BBC Radio 4
On Wednesday 22 May 2019 Peter McKenna, Partner and financial mis-selling lawyer at TLW Solicitors appeared on BBC Radio 4’s consumer-focused programme, “You and Yours” hosted by Winnifred Robinson.
The focus of the programme was an investigation carried out by BBC reporter Shari Vahl into Dolphin Trust, an investment scheme specialising in the development of German listed buildings, promising returns of 10% to its investors.
Interview with TLW's Peter McKenna
+ −In the BBC interview, Peter explained that TLW Solicitors were currently working with clients who are concerned about their investment in Dolphin. TLW are also being contacted by Dolphin investors from across the world, including Singapore, who say that they are not receiving the returns from their investment that they were promised.
Often recommended to individuals by an Independent Financial Adviser (IFA), Dolphin Trust, now known as German Property Group, is still commonly available to investors via a Self-Invested Personal Pension (SIPP). However, many of the bonds with Dolphin Trust are only payable upon maturity which takes two or five years. In addition, the investment is not regulated by the Financial Conduct Authority (FCA).
BBC's investigation
+ −The BBC report pointed out that some of the properties to be renovated and converted, for example into residential flats, were simply not suitable and would require substantially more investment than was projected.
The report also questioned why many investors had no information regarding the specific properties they were investing in, as well as highlighting the significant commissions, up to 20% of the money which investors invested, earned by those selling the investments.
TLW contacted by concerned investors
+ −The specialist financial mis-selling team at TLW Solicitors have been contacted by concerned investors who have not yet received the returns promised from their Dolphin Trust investment or who are struggling to get their capital investment repaid to them.
Many of these investors did not realise, and were not made aware by their financial adviser, that schemes like this can be very risky. They are now understandably worried about the sustainability of their investment and the advice they were given by their financial adviser to invest in Dolphin.
To hear the full programme, follow this link and log into BBC iPlayer.
TLW Solicitors’ view
+ −Commenting on the BBC report and interview, Peter McKenna said:
Over recent months we have seen more and more enquiries from Dolphin Trust investors who say they are not getting what their financial adviser told them they would. In most cases we see, we find it extremely surprising that such a high risk investment has been recommended to our clients given their lack of investment experience and their limited capacity for loss.
The BBC investigation has highlighted some matters which we were not aware of and we will be looking into these and other issues to see how our clients have be affected by the financial advice they were given.
TLW Solicitors can help you
+ −If you have invested your pension, or part of it, with Dolphin Trust (now known as German Property Group) and are worried about your investment and the financial advice that you received, please get in touch with TLW Solicitors for a no-obligation discussion to see if we can help you.
TLW Solicitors are experienced in claiming no win no fee compensation for clients who have invested their pension funds in high-risk unregulated investment products via a SIPP.
TLW’s specialist lawyers can also pursue a claim even if those who provided the advice to invest have gone out of business.
In such cases, as well as being entitled to claim towards the amount which you invested, you may be able to claim:
- Fees paid to the IFA and SIPP company who arranged your investment;
- The money you would have made if your pension/savings had remained where they were.
If you think that you, a friend or a family member may have invested in Dolphin Trust, please contact one of the specialist financial mis-selling lawyers here at TLW Solicitors on 0800 169 5925, email info@tlwsolicitors.co.uk or complete one of our online forms.
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