Tenet Group — operating through TenetConnect Services Limited — is a major UK adviser network that bears regulatory responsibility for the advice of its appointed representative network. The FOS has upheld DB transfer and SIPP suitability complaints against Tenet. If you were advised by a Tenet-authorised adviser, FOS routes are available.
Start your free assessment →Tenet Group Limited operates TenetConnect Services Limited, one of the UK's largest networks of appointed representative (AR) financial advisers. Where an AR gives pension advice under Tenet's authorisation, Tenet bears regulatory responsibility under Section 39 of FSMA 2000.
The FOS has upheld complaints against Tenet / TenetConnect relating to DB pension transfer advice given by its AR network, and to advice on SIPP investments involving unregulated collective investment schemes (UCIS) and Cape Verde property investments. In the landmark Tenet Connect v FOS [2018] EWHC 459 (Admin), the High Court confirmed that regulated and unregulated advice given by an AR are inextricably linked — Tenet cannot separate the pension switch advice from the investment advice given alongside it.
The following decisions are a matter of public record. Decision references can be verified at financial-ombudsman.org.uk.
The ombudsman upheld the complaint against TenetConnect Services Limited, finding it was responsible for the advice given by its AR to switch the claimant's personal pension to a Guardian SIPP and invest in Cape Verde property investments. The FOS rejected Tenet's argument that it was only responsible for the regulated element of the advice — the pension switch — and not for the investment advice that was inextricably linked to it. Tenet was directed to pay full compensation.
A formal DISP complaint to TenetConnect Services Limited is the first step. Tenet must respond within 8 weeks.
No cap on direct complaintThe FOS has upheld complaints against Tenet for unsuitable SIPP and DB transfer advice given by its AR network. The FOS applies Tenet Connect v FOS [2018] to hold Tenet responsible for the full advice package, not just the regulated component.
Up to £455,000The six-year FOS clock runs from when the advice was given. For Tenet AR advice given before 2019, this clock may have expired — but the three-year awareness clock from when you discovered your loss may still apply. Obtain an assessment immediately. See redressadvisory.com/time-limits for the full limitation framework.
Yes. Under Section 39 of FSMA 2000, where an appointed representative gives advice under a firm's authorisation, the principal (Tenet) is responsible for that advice. Complaints should be brought against TenetConnect Services Limited, not against the individual AR.
The High Court in Tenet Connect v FOS [2018] EWHC 459 (Admin) confirmed that where a Tenet AR gives linked advice on both a pension switch and the investment the SIPP was established to facilitate, these constitute a single piece of regulated advice. Tenet cannot escape liability by claiming it was only responsible for the regulated pension switch element.
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