Channel One Financial Planning LLP
The FSCS now accepts claims against Channel One Financial Planning LLP
Channel One Financial Planning LLP also trading as Channel One Financial Services
was an independent financial advisory firm founded in 2006 and located in
Birmingham. They have entered into liquidation since January 2021 and were declared in default by the Financial Services Compensation Scheme (FSCS) on 25th
January 2022. In August 2016, the Financial Ombudsman Service upheld two complaints against Channel One and as of January 2022, the FSCS has received 17 claims against the Firm.
Channel One was one of the businesses involved in the British Steel Pension Scheme. In
2017, many British Steel employees were advised by Channel to transfer their
defined pension into a defined contribution pension known as a Personal Pension
Plan or a Self-Invested Personal Pension (SIPP).
These investments are high-risk, and often unsuitable. As a result of the negligent advice, the employees have made a significant loss. Some of the benefits lost due to the advice from Channel are ill health benefits, index-linked increases, and guaranteed annual income.
If you have been advised by Channel One and believe the advice may not have been the best for you, please contact us.
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