Financial Advisers are a common contributing factor in SIPP mis-selling and mis-sold pension advice cases.
Authorised Financial Advisers and firms are regulated by the Financial Conduct Authority. This means they are subject to strict codes of conduct that try to ensure clients are protected and treated fairly.
When making financial recommendations, such as investments and pension transfers, Advisers must consider the client’s needs and circumstances, as well as the level of investment risk they are willing to take.
The majority of Financial Advisers do act in their client’s best interest, but sometimes some do fail in their regulatory duty and expose their clients to unsuitable risks causing financial losses.
SIPPs – Self Invested Personal Pensions – are mainly considered unsuitable pension products for people who have little investment knowledge or experience. This is because of what’s involved with managing a SIPP as well as the risks involved with the investments they contain.
If an FCA regulated Adviser or firm has recommended or facilitated a pension transfer into a SIPP with investments that are not suitable for the investor, this may be mis-selling.
Mis-sold pension transfer advice is when the recommendation to move your pension into a new pension arrangement was not the best option for you. This may also have caused significant losses financially as well as in terms of benefits offered by the previous scheme.
If an FCA regulated Adviser or firm has recommended or facilitated a pension transfer which was unsuitable for you – you may have been mis-sold.
We offer a free initial check to assess whether the advice you received was suitable or negligent and if you may have a case to pursue a claim for compensation.START NOW
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.