Savers were encouraged to move their money into new investments. (Nick Ansell/PA)The High Court has found against two companies that convinced thousands of pension savers to move millions of pounds into several failed investments. Around 2,000 small investors moved £91.8 million from their regular pension pot into so-called self-invested personal pensions (Sipps), on advice from the companies. “The actions of those involved put the pension savings of thousands of people at risk. “Unregulated introducers, like Avacade, often try to skirt regulation by making false claims about the kind of service they provide.

Source: Irish Independent June 30, 2020 12:11 UTC