FSCS Receives 80 Claims Against DFM Organic Investment Limited
Updated: Jul 17, 2020
The Financial Services Compensation Scheme has received 80 claims again London based discretionary fund manager Organic Investment Management after collapsing due to intervention by the regulator in March 2018.
As a result, many claims were made for compensation relating to self-invested pensions, personal pensions, pension advice and investment portfolio activities after concerns regarding illiquid and potentially high-risk investments in the fund manager’s model portfolio.
In December 2018, the Financial Conduct Authority told Organic to stop conducting any regulated activity which included managing investments, without prior consent of the FCA. Additionally, Organic was told it must not dispose of, deal with, or diminish the value of any assets other than in the ordinary course of business.
The company brought in administrators shortly after with the FSCS already declaring some defaulted advice firms that were involved with the failed scheme. The lifeboat body has already paid out more than £100,000 in compensation claims on an advice firm Pensionology and £28,000 on failed NJ Associates Financial Services Limited who advised clients to invest with Organic or advise on transferring existing pension or investments through a SIPP.
If you have been affected by the financial services offered by Organic Investment Management and would like to discuss how we may be able to help give us a call on 01903 868251.
Information in this article was sourced from