An Unregulated Collective Investment Scheme (UCIS) is an ‘unregulated collective investment scheme’, and therefore unauthorised by the Financial Conduct Authority (FCA).
This scheme could have mis-sold to you. If so, we can help you make a pension compensation claim.
It’s a complicated form of investment where an investment fund manager takes your investment, pools it with others, and uses the total to buy stocks, bonds or property.
Not all collective schemes are unregulated and unauthorised. The FCA authorises several, but unregulated schemes are often based outside the UK, and typically make more unusual investments which come with a higher degree of risk.
No financial advisor or fund manager should offer a UCIS to anyone in the UK unless they are sophisticated investors with a high net worth, or existing UCIS investors.
Yet we’ve seen cases where members of the public have been advised to invest their SIPP pension into a UCIS. This shouldn’t be happening, firstly because a UCIS isn’t generally suitable for such pension investments, and secondly because if things go wrong, you can’t go to the FCA (because they don’t regulate it).
Can I Make A Claim For UCIS Compensation?
Unless you are an experienced investor with a high net worth, no financial advisor or investment manager should recommend a UCIS to you. If they have, and you have lost money as a result, it is likely you have been mis-sold the UCIS and you may be entitled to compensation.
That’s especially the case if any of the following apply:
- The nature of the UCIS investment wasn’t explained to you
- The risks and rate of return of UCIS investment weren’t explained
- The charges for managing your UCIS were not made clear
- Your financial advisor did not take all your circumstances into account when recommending the investment
- You were advised to switch your SIPP to a UCIS and the reasons were not clearly explained
At Claim Experts, we’ll look again at the information you were given when your UCIS was set up. If we can identify evidence that your financial advisor mis-sold your UCIS, or mis-advised you as to the nature of it or the risks involved, we’ll make your claim for you.
Mis-sold UCIS Compensation – How Much Will I Get?
Calculating the amount of UCIS compensation you may be entitled to is complex, but it could amount to £000s.
We work on a no win, no fee basis*, so seeing if you could make a claim won’t cost you a penny. To find out more, contact us by completing the quick enquiry form.
Why Work With Us?
Claim Experts deals with all forms of pension and investment mis-selling and compensation, including UCIS mis-selling. If you’ve lost money, we’ll help you get it back.
We’re regulated by the Financial Conduct Authority.
And we keep the lines of communication open – so if you need to talk to us about your claim, you can.
We know that pensions and investment mis-selling can be complex. That’s why we work hard to make it simpler.