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Corporate & Professional Pensions Limited

Corporate & Professional Pensions Limited (Corporate & Professional) is a SIPP operator based in Weymouth.

On 1 February 2022 the FCA announced that Corporate & Professional had gone into administration and had appointed joint administrators Adam Stephens and Nick Myers of Smith Williamson LLP.

Why has Corporate & Professional entered administration?

Corporate & Professional entered administration following the final decisions of several complaints upheld by the Financial Ombudsman Service.

The firm recognised it would not be able to pay out in respect of these claims and remain solvent.

Even though Corporate and Professional is in administration, it remains an FCA-authorised firm and is still subject to its rules.

This means it can continue to operate existing pensions whilst the administrators look for a new operator.

FCA Warning for clients

The FCA has warned customers to be aware that they may be potential targets of fraudulent activity following the administration.

It said: “All customers should remain alert to the possibility of fraud. If you are a client of Corporate and Professional and are cold called by someone claiming to be from Corporate and Professional, Smith and Williamson LLP or any other company claiming to be involved in the Corporate and Professional administration, please end the call and call the administrators.”

Why have clients complained about Corporate & Professional?

Clients complained about the due diligence Corporate & Professional carried out prior to accepting high-risk non-standard investments in its SIPP wrappers.

One of these investments is Sustainable AgroEnergy which was an investment based on trees grown in Cambodia. It involved leasing plots of land, and the trees planted on them, and receiving either an annual income payment or additional land plots as a return.

This type of investment is only suitable for a small proportion of investors, for example a “sophisticated” investor. Even then, only for a small proportion of their investment portfolio.

Sustainable AgroEnergy

In 2012 Sustainable AgroEnergy was investigated by the Serious Fraud Office (SFO) as part of a criminal investigation.

The investigation focused on the sale and promotion of SA’s products which found that investors had been deliberately misled about the nature of the investment.

They later brought charges and three men, one of whom introduced business to Corporate & Professional Pensions Limited, were found guilty and given prison sentences.

Unregulated Introducers

According to the published FOS decisions several Unregulated Introducers were responsible for introducing clients to Corporate & Professional Pensions Limited.

These include S J Stone Ltd, Protea Wealth Management and Portwood Financial Services Ltd (also known as otheroptions.co.uk.)

GET MIS-SOLD PENSION ADVICE

The BAD news:

Unsuitable Pension advice has caused huge losses

The GOOD news:

Compensation payments are hitting record figures every year

What happens now if I have a complaint?

The Financial Services Compensation Scheme is not open to complaints against the firm at the moment but said it is investigating whether there are any claims that could be due compensation.

If they do find there are protected claims then it will assess if these are eligible to receive compensation.

Not sure if you have a case against Corporate & Professional Pensions Limited?

If you are not sure if you have grounds to make a complaint against Corporate & Professional Pensions Limited – we can help!

Call and have a chat with one of our team who can tell you if we think you have a case and what you can do about it.

No obligation! But if you do want to use our service we will manage every aspect of your complaint and keep you updated at every stage.

Get in touch and find out if you should be taking action for SIPP mis-selling.

Reasons To Choose Us:

1

We are 100% pension mis-selling claims

2

We win more than 9 out of 10 complaints

3

Our fee is 15% +VAT on the total monies offered for a successful claim and is capped at £7,500 +VAT.

4

There is no charge for unsuccessful claims

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