If you have AIGO Funds in your SIPP you may want to check if you should be claiming compensation for mis-selling

The AIGO Fund (Alternative Investment Growth Opportunities) was promoted as an investment into natural resources and was managed by Fidelis Global Asset Management.

It was a ‘loan note’ property investment scheme in which investors were promised high returns through annual coupons paid as cash back into their SIPPS.

AIGO Funds (AIGO Holdings Plc) became insolvent as a result of SIPP Provider Guinness Mahon issuing a petition to wind up their business. This was after they failed to issue the returns (coupons) to investors and fulfil their redemption obligations.

Financial Advisers linked to AIGO

Many people who invested in the AIGO Fund through their SIPP – Self Invested Personal Pension – did so as a result of pension transfer advice.

Notable firms who actively advised people to invest in AIGO were Bank House Investment Management, Henderson Carter Associates and Financial Page. Unfortunately, this advice was not suitable for many investors and as a result the FSCS has already paid out more than 5.7m in compensation.

What Makes Advice Unsuitable?

• If you felt pressured
• You didn’t understand how the investment works
• You weren’t aware of the risks involved
• If the risks were more than you said you wanted to take or could afford

All of the above are potential red flags to pension mis-selling. A financial adviser has a duty to ensure all recommendations are suitable to your needs and attitude, if for whatever reason they failed to do this, you may have been mis-sold.

What Can You Do?

If you received advice to invest in the AIGO Fund, then you may have been mis-sold and could have a case to claim compensation.

Want a free expert opinion?

Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate that mis-selling may have happened.

Our assessment is free and there’s absolutely no obligation to use our service if you have case.