A SIPP, self-invested personal pension, is essentially a DIY pension option that allows you to combine a more varied investment portfolio than most standard pensions. SIPPs can be helpful in that they allow more flexibility in terms of the types and quantity of investments that you can enter into. They are not suited to everyone and if you do have one you may be one of the many thousands of people who have valid SIPP claims.
The funds that make up a SIPP can be selected by the financial adviser. That person has a duty to choose investments that are well-aligned with the client’s objectives and needs, as well as taking into account their attitude towards risk.
Unfortunately, some financial advisers have placed investors’ funds into high risk investments, without warning their clients of the potential risks involved. Consequently, some clients have been left with depleted pension funds, leaving them in financial difficulties during their retirement years.
Some advisers advised their clients to switch to SIPPs solely to gain higher commission rates than are payable on standard personal pension plans. In addition, some people were advised to invest in property, in overseas investments, and in environmental-related investments, many of which proved to be ill-fated and definitely valid SIPP claims.
If your SIPPs investments were mis-sold to you, you could have a claim for thousands of pounds. You may have a valid SIPP claim if:
You may also have a SIPP claim for compensation if you feel that you were not fully informed about your investments.
What should you do now?
If you think you may have cause for a SIPP compensation claim contact our helpful team of experts in confidence for advice on exactly what you can do next.
Here at Financial Resolver, we specialise in pursuing claims for mis-sold SIPP investments. We have been helping clients for over three years on a no-win, no-fee basis and we make no up-front charges or charges for cancellation. If successful in your claim, you’ll be charged our fee of 20% plus VAT.
We only pursue claims that we consider as both strong and credible. If we believe that your claim may be unsuccessful, we will accordingly advise you.
If you have suffered a financial loss after receiving poor advice to purchase or transfer financial products from your broker, bank or Financial Advisor and wish to discuss making a claim then please call or email us today.
Mac Fin Consulting Limited t/a Financial Resolver is regulated by the Claims Management Regulator in respect of regulated claims management activities.
Its authorisation number is CRM31917. The registration is recorded on the website www.claimsregulation.gov.uk.
Mac Fin Consulting Limited is registered in England - Company Number 7782966. VAT registration - 121 9207 44. Registered and trading address: 10 Leatherline Business Centre, 71 Narrow Lane, Leicester LE2 8NA