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Wealthmasters Financial Management Ltd/FOS


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I am about to receive a FOS (Financial Ombudsman Service) Final Decision (FD) against Wealthmasters.

 

I complained about unsuitable advice to invest in Dolphin Trust aka The German Property Group and another recommended investment.

 

I have posted in another CAG area under the heading of Wellington Court and non payment of FOS awards.

 

I believe, but I hope I am wrong, that my IFA will also not pay the award and I will then take action in the County Court.

 

I have retained a firm of solicitors who are ready to issue proceedings as soon as the 28 days to pay me have expired.

 

Steve

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Topic moved to the appropriate forum.

 

Andy

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We could do with some help from you.

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  • Andyorch changed the title to Wealthmasters Financial Management Ltd/FOS

As we've seen and you may have read, the problem comes if they don't have the funds to pay you, in which case suing them may have a limited effect.

 

Companies House has two companies, Wealthmasters Ltd and Wealthmasters Financial Management with the same address and directors. The accounts don't look terrible but pension misselling claims are expensive. I doubt that their PI (professional indemnity insurance would cover it.

 

HB

 

FIND-AND-UPDATE.COMPANY-INFORMATION.SERVICE.GOV.UK

WEALTHMASTERS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual...

 

FIND-AND-UPDATE.COMPANY-INFORMATION.SERVICE.GOV.UK

WEALTHMASTERS FINANCIAL MANAGEMENT LTD - Free company information from Companies House including registered office address...

 

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Illegitimi non carborundum

 

 

 

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Hi honeybee13

 

The company name is Wealthmasters Financial Management Ltd.

 

The investment(s) were Cash and not in/through a pension.

 

I also have checked their recent accounts as have my solicitors.

 

My intention if they do not pay, (I know I’m preparing things in advance) is to get a CCJ against the company as quick as possible.

 

If they still don’t pay, I will be looking to explain to the FCA that they are authorising a firm of financial advisors who have a CCJ for non payment of a debt!

 

This  may force the FCA to threaten the firm to pay up or become de-authorised.

 

If they become de-authorised, then I can start my claim at the FSCS.

 

If I have understood everything correctly, these are the possible outcomes.

 

The last thing I want is another couple of years waiting for the firm to cease trading or the FCA to de-authorise them.

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Well l dont think you need a Solicitor for a FOS claim against them. You never needed it as you already have a legal judgement just need it enforcing. 

IMO a solicitor is a waste of Money. Just fill the paperwork yourself and pay the fee. Cant remember the form number but you might have to start with a N1 or the one which is called enforcing a judgement 

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

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  • 4 weeks later...

I have now received my upheld Final Decision from the Ombudsman.

 

I do not have confidence that Wealthmasters have the funds to pay, so if anyone can help with the next stage, I would be very grateful.

 

I believe I need to wait 28 days, but I would like to get everything in order first.

 

I think I need to calculate the redress amounts, which I have started to do.

 

Then I will need to “Enforce the FOS Decision” in the County Court.

 

Then escalate the case to the High Court.

 

Please let me know if you feel you can help.

 

Thank you.

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WWW.LAWGAZETTE.CO.UK

Why are attempts to enforce Financial Ombudsman Service decisions in the legal system so onerous?

 

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

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