Advisory firm to compensate client after facilitating Cape Verde hotel investment

Hannah Godfrey
clock • 3 min read

Insight Financial Associates has been asked to compensate a former client after it transferred his pension into a self-invested personal pension (SIPP) that was used to invest in a hotel development project in Cape Verde. Mr H, as the UK's Financial Ombudsman Service (FOS) referred to him, invested £66,318 into the project that saw him take a 45% stake in an ‘off-plan' apartment on the understanding he would later purchase the remaining 55%. His investment was later transferred to part-own...

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