Scamming has grown up; long gone the daylight robbery , fading into the distance “pension liberation”. Today’s scammer plays pass the parcel with your money, skimming off a slice of your savings – every turn. It’s called fractional scamming , it’s alive and well and the scammers are after your money.
Here’s how the FCA compare the pre and post adviser remuneration model (oops- I meant the “value chain”). Pre RDR it was called commission, post RDR it’s called “marketing fees”.
Fractional scamming works by sending money from one of those boxes on the bottom row to another, so that everyone gets a slice of the action.
So it’s all about distribution!
If you want to view the lesser-spotted overseas pensions introducer organising distribution, here’s John Ferguson
I’ve been racking my brains…
I’ve been trying to remind myself of a UK investment structure that linked unauthorised introducers to authorised IFAS who worked with Pension Trustees to transfer money into overseas funds, but I just can’t remember the instance.
Somehow, Port Talbot, Dublin and Orpington came into the conversation. Hardly Dubai or Hong Kong…..
and then I saw this tweet and it got this horrible sense of deja vue
Bond Review – exposing unregulated investments – examined the Blackmore Bond! Take a look. https://t.co/H7IFvLiFBp @henryhtapper @CDML @ANGIEBROOKS11 @NJM71 @RedCircleFP @MENnewsdesk @frankfieldteam @CapronFrank @mark_iom @TheFCA
— Pension Scam Survivor (@mk14steve) March 12, 2018
If I’d mate it all up- so had this guy! Just like this Pension Scam Survivor, just like Angie Brooks.
I must have made it all up as I have a 12 Page letter from B**t Wils@n LLP (marked not for publication) telling me I had.
I’ve been racking my brains trying to remember what happened and now I realise it didn’t happen at all. And the You and Yours investigation that revealed all this is happening to the Pension Scam Survivor and the others, that was making it up too!
So was Bond Investor, whose beautifully written blog on Blackmore; that must be pure fantasy too!
We know that we must be liars, because all these guys’ solicitors tell us we are, and because John (Gus) Ferguson and David Vilka and Patrick McCreesh and Philip Nunn are still sunning themselves in Dubai, or Hong Kong or Spain .
And if we weren’t liars and these guys really did do the things that the BBC say they did, they surely would be under arrest – which they aren’t.
We get the financial services we deserve.
If we think it is ok that fractional scammers can carry on taking the p*** with our money, we can allow these guys to carry on – we can send them our money – we can indulge them their lavish lifestyles.
But if we think we deserve better, we ought to join with Angie Brooks and with all the good guys like Stephen Sefton, who are strong enough and admit to being a Pension Scam Survivor.
Because all the lawyers in London, cannot defend the venal behaviour that is going on today – and under our very noses.