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Can I claim for a failed investment in Raithwaite Hall?

Here at LawPlus Solicitors, we’re fielding many enquiries regarding investments in Raithwaite Hall – now known as Raithwaite Sandsend – a popular venue in the Yorkshire coastal town of Whitby.

This short article will aim to address the questions people are sending us and the circumstances behind these so that you understand your position if you were an investor in Raithwaite Hall.

Can I claim compensation for a failed investment?

Individuals who had made investments in Raithwaite Hall via Grosvenor Financial Consultants – a financial advisory firm that failed in January 2021 – may be eligible for compensation.

Raithwaite Hall hit trouble in March 2020, when the venue was hit by closures due to COVID-19, which meant there was no revenue or profits to sustain the business or ensure a return for investors. Shortly after, Grosvenor Financial Consultants went into administration itself, leaving investors facing a total loss on what were effectively business loans.

What’s the story behind Grosvenor Financial Consultants?

Investments had been made into the Raithwaite Investment Scheme via Grosvenor since March 2016. In 2020, Grosvenor’s administrators said there were around 120 investors in the scheme, with approximately £120 million invested in total.

In addition, throughout 2019, Grosvenor faced several complaints made to the Financial Ombudsman Service (FOS) and Financial Conduct Authority (FCA) regarding historical defined benefit pension transfer mis-selling.

Can I claim if I transferred out of my pension to invest in Raithwaite Hall?

As with any mis-selling claim, it depends on the circumstances behind your transfer.

If Grosvenor Financial Consultants advised you to transfer out of your final salary pension to invest that cash in Raithwaite Hall, you should contact us here for a free, no-obligation review of your transfer.

Do I need to have transferred my pension to claim?

Not necessarily. As Grosvenor has failed, you may be able to claim compensation whether you transferred your pension into the Raithwaite Investment Scheme or invested directly following advice from the firm.

If you were considering making a claim against Grosvenor Financial Consultants regarding another matter or other mis-selling, we may be able to assist you with that, too.

Contact us now for a free, no-obligation review of your pension transfer or investment advice and take the first steps to get the compensation you deserve.

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