Many investors were given poor or mis-leading advice when it came to transferring money from their personal pension into a Carey Pension SIPP.
As a result, successful claims have been brought against regulated financial advisers for recommending these unsuitable pension transfers.
However not all pension “advice” comes from a regulated firm or individual. Some people transferred their pensions to SIPPs as a result of unregulated introducers – Commercial Land & Property (CL&P).
CL&P were an unregulated introducer firm whose managing director Terence Wright was on the FSA (now Financial Conduct Authority) watchlist.
They persuaded people to move their pensions into SIPPs, which contained high-risk and unregulated investments, like Store First, which are not suitable for the average investor.
These types of firms were notorious for their “cold call pension review” way of marketing and many investors unknowingly transferred their very safe and secure pensions into risky and sometimes worthless SIPPs.
Carey’s accepting business from CL&P is part of an ongoing court case against the provider.
There are many claims currently on hold with the Financial Ombudsman Service pending the outcome of this case.
Did you know?
In February 2018 Carey Pension decided to separate their book into “good and distressed” which saw many SIPP clients with illiquid funds moved into a separate scheme.
Later that year they also sold the majority stake in Carey Pensions, excluding the “distressed” book, to STM and changed their name to Options Pensions.
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.
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.