Chat on WhatsApp

0114 266 4216

August 31, 2022

Rowanmoor Pensions in Administration

The Financial Conduct Authority has announced that SIPP pension operator Rowanmoor Personal Pensions Ltd has entered administration.

 Adam Stephens and Christopher Allen of Evelyn Partners LLP were appointed joint administrators on 31stAugust 2022.

They will continue to run the pension schemes whilst they find a new operator to take over the administration of Rowanmoor’s SIPPs 

For customers, this means that no immediate changes to the way pensions are handled. And pension assets are held by Rowanmoor Trustees Ltd (RTL), which has not entered administration 

Why has Rowannmoor Personal Pensions gone into Administration?

Rowanmoor sought professional advice regarding the liabilities arising from complaints received from their clients as well as potential complaints.

It was determined by the directors that the company was insolvent and should be placed into administration.

Complaints against Rowanmoor

Complaints involve historic high-risk non-standard assets; and that Rowanmoor didn’t carry out adequate due diligence before accepting these assets into customers’ SIPPs.

 A sample case was upheld by The Financial Ombudsman Service in February, which was representative of most of the complaints received.

The Financial Ombudsman Service said  it was currently handling 886 complaints against Rowanmoor involving due diligence and 548 of those involve The Resort Group investment.

Rowanmoor Personal Pensions Ltd is now in administration,  so complaints will no longer be referred to the Financial Ombudsman Service.

The Financial Services Compensation Scheme will now investigate whether there are any eligible compensation claims that meet their qualifying conditions.

Important Information!

You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.