Daniel Walton, director of Wakefield-based Regency Financial Planning, told a client that her previous adviser had retired, when that was not the case.
He then persuaded her to move her savings, amounting to over £60,000 ($74,818, €66,671), from investment firm Skandia to SJP in order to keep receiving advice.
The transfer landed the client with a capital gains tax bill. She claims Walton did not tell her she could have avoided the tax charge if she moved the money in instalments.
The unnamed client then complained to the Financial Ombudsman Service (FOS).
The documents Walton provided the FOS did not match the ones the customer was given.
They show additional tax advice regarding the capital gains tax bill and, according to the client, a forged signature.
However, SJP told International Adviser that it rejects any allegation that the documents were forged, or that doctored files were gives to the Ombudsman. It claimed that any of the allegations are “simply not true”.
A spokesman for the company said SJP was unable to comment further due to data protection rules, as it did not have the client’s permission to do so.
Walton is still working at Recency Financial Planning.
IA reached out to the FOS for comment, but it said that the Ombudsman would refer the matter to the Financial Conduct Authority (FCA) if it had concerns about the business.