Liberty SIPP

Liberty SIPP was yet another SIPP provider under fire for allowing investors to get into high-risk, unregulated schemes as part of their SIPP – Self Invested Personal Pension. These Investments included Ethical Forestry, GAS Verdant, Agro Energy and Global Plantations.

FOS Cases

In 2018 it was reported that 500 cases were submitted to the Financial Ombudsman Service (FOS) on behalf of clients who had lost money due to these investments. The number of claims has more than tripled since.

Previously it had always been difficult to make a case against the SIPP provider as the responsibility usually fell on the adviser for the giving the advice to the client.

However, more and more cases are coming to light where the client had not been given advice from a regulated adviser but had actually received a recommendation from an unregulated introducer or marketing firm.

The FOS has actually upheld cases against Liberty SIPP for this reason, as they accepted business from an introducer firm called Avacade – a company that was highlighted by the FCA for making “misleading statements” and “carrying out regulated activity without the required authorisation or approval”

Liberty SIPP sold its client bank to EBS Pensions, a subsidiary of the Embark group and is set to be wound up as part of the deal.

UPDATE APRIL 2020

Liberty SIPP Ltd have entered into administration meaning claims against the company will now be dealt with by the FSCS. For more see our blog post

Mis-selling

High-risk investments can be great things for the right type of investors, but if you

  • Don’t understand the risks involved
  • Can’t afford the losses

Then they are probably not right for you and if you were advised to transfer into a SIPP that contains these types of investments you might want to check if you’ve been mis-sold your SIPP.

That’s where we can help. Our initial check will assess whether you may have been mis-sold and if it’s in your interest to make a claim. We will also run you through the claims process, advise you on your options and answer any questions you may have.

Call 0114 2664216 or fill in the enquiry form to arrange a convenient time to call you.

 

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 Compensation Scheme, whichever is applicable to your claim.

We will not make or pursue a claim, or advise you to, if we know or have reasonable grounds to suspect that the claim does not have a good arguable basis, and or is fraudulent or frivolous.