Next Gen Solicitors

The Market

3.1 Mis Sold Financial and Pensions Advice Next Gen Solicitors is currently acting for claimants wrongly advised about investment into Self Invested Personal Pensions (SIPP). SIPPs were widely Mis-sold, and a great number of people lost much of their hard-earned savings as a result, placing their retirement in jeopardy. Considering the SIPP Mis-selling scandal, the Financial Services Compensation Scheme (FSCS) have set aside £532 million to pay for compensation costs, where complaints are made about Mis-selling in 2019/20. With the knowledge held by Next Gen Solicitors and its specialists, the company is able to identify precisely where and how a client has been Mis-sold, and will act for these clients to recover losses. The team has been involved with over 1,000 successful cases to date. 3.2 ‘Plevin’ PPI Claims Next Gen Solicitors is currently acting for clients making ‘Plevin’ claims. Plevin claims are claims for the commission charged on the PPI premiums that many people took out in the 1990s and early 2000s. The FCA believes that between approximately 60,000 and 140,000 clients need to be informed that they are eligible to make a claim under Plevin rules. They may have had complaints rejected previously, not been adequately assessed for undisclosed commission, and not been provided with written information about being able to claim for the previously undisclosed commission, which others were advised to do. There is still approximately £52 billion pounds to reclaim, currently with no time limitation on when a claimmay be entered. Our specialists in this area produce reports for cases requiring litigation that includes the likelihood of success and quantum of loss. The financial Mis-selling SIPP market has a reported 300,000 potential cases, with the value of a typical case claim averaging £38,000. Other commonly Mis-sold pensions and investments includes SSAS and QROPs.

1. Case Funding The case funding investment market has grown exponentially over the last few years. It is expected to grow further due to case funding investments being uncorrelated with market fluctuations. For instance, if the financial markets undergo significant changes due to global or regional factors, many other investment classes, being linked to the markets, are affected. Case funding, however, having no direct link to financial markets, is not exposed to these changes. In a landscape in which bringing a claim can prove extremely costly, case funding fills the gap, providing the finance for people to be able to pursue claims. In the specific instance of the investment, it allows Next Gen Solicitors to finance the client’s case and pursue the claim to recover damages. Next Gen Solicitors are raising capital to pursue claims for clients in markets it knows to have a high success rate, with lower costs and risks involved. Each market requires a high level of expertise, knowledge and experience, which Next Gen Solicitors and its appointed specialists possess. Next Gen Solicitors plan to use funds raised to finance cases in established markets including: • financial mis-selling; • personal injury; • medical negligence. • housing disrepair 2. Validity of ‘Case type’ market in which Next Gen Solicitors operates

3. Expansion of our Financial Mis-selling Department

Next Gen Solicitors has recently expanded its Financial Mis-selling department. This will enable the firm to increase its case load in lucrative markets including: • Mis-sold financial and pensions advice; • Plevin.

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