Guinness Mahon

If you transferred your pension into a Guinness Mahon SIPP you may want to check if you should be claiming compensation for mis-selling

This is another SIPP provider who have had claims against them upheld by the Financial Ombudsman Service, for accepting business from unregulated introducer firm Avacade in respect of Ethical Forestry.

Ethical Forestry 

Ethical Forestry was an investment in plantations in Costa Rica which subsequently became part of a Serious Fraud Office investigation. Around 3,500 UK investors placed £70m of their money into this unregulated scheme, through SIPPs administered by companies such as Guinness Mahon.

Avacade – unregulated introducers

Avacade were also pursued by the Financial Conduct Authority (FCA) for giving advice without authorisation. It is this unregulated advice that landed a lot of people into an unsuitable investment which unfortunately cost them their pension pots.

Guinness Mahon were found to have failed in applying adequate due diligence to Avacade and should have refused the business.

AIGO Funds

Other investments linked to the Guinness Mahon SIPP are the AIGO funds – a collection of high-risk investments that were not regulated by the FCA. Being unregulated means there’s no protection for the investor should things go wrong.

AIGO –Alternative Investment Growth Opportunities was a ‘loan note’ property investment scheme in which investors were promised high returns through annual coupons paid as cash back into investors SIPPS.

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

Exposure to high-risk through Guinness Mahon SIPPs

These types of investments are very high-risk and as such are only suitable for certain types of investors. Mainly those who understand them and can afford the potential losses. Unfortunately, many investors have been exposed to high-risk, non standard investments through their SIPPs, despite them being unsuitable. Sometimes as a result of regulated financial advice.

Wellington Court Financial Services

The Financial Ombudsman Service has upheld a large number of complaints against Wellington Court Financial Services in respect of its involvement with the transfer of customers’ pensions into SIPPs administered by Guinness Mahon. Wellington Court was declared in default by the FSCS in May 2023.

Latest on Guinness Mahon 

The FCA announced in 17 Feb 2020 that Guinness Mahon Trust Corporation Ltd had gone into administration and that the appointed administrators – Smith & Williamson LLP – had immediately sold the SIPP part of the business to Hartley Pensions. 

The announcement also said that Guinness Mahon had received complaints regarding historic high-risk investment and the due diligence carried out before accepting these investments into client SIPPs. It’s in light of the liabilities associated with these and potential complaints, that they had sought professional advice which advised to enter into administration

Guinness Mahon joined the FSCS list of failed firms on October 29th 2020.

Want a free expert check to see if you may have been mis-sold?

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.

Key Facts

1
Guinness Mahon had unregulated & high-risk investments AIGO funds and Ethical Forestry in some SIPPs
2
Accepted business from unregulated introducers Avacade
3
Guinness Mahon went into Administration in 2020

We win more than 9 out of 10 claims

The cost of our service is 15% + VAT on the total monies awarded for a successful claim. Our cost is also priced capped at one of the lowest rates.

Rodders Hewitt
2024-03-08
Pension Claim Consulting Ltd ...have for me done a great job ...within the expected time scale ...Couldn't have asked for more
Phil C
2024-02-23
Thank you to all at PCC. My claim was managed brilliantly and was successful. I can highly recommended their services. Thank you once again
Christopher Fraser
2024-02-07
After identifying a concern regarding my pension, I sought advice from Pension Claim Consulting. The response and customer service was swift and amazing. The courtesy and care taken throughout the whole process was phenomenal. The consultant’s communication from start to finish filled me with confidence that PCC do exactly what they state and were on hand whenever required. The level of understanding, empathy for the frustrations, and patience is by far the best I’ve witnessed. I cannot thank PCC enough for their outstanding work ethic and dedication to customers/clients. If you have any concerns at all regarding your pension, then I would highly recommend that you get in touch with them.
Andy Yates
2024-02-06
Fantastic service, so impressed with Pension Claims Consulting. None stop updates throughout and everyone who works there was so helpful and supportive in every way. Thank you so much for getting my pension back.
Robert Manningham
2024-02-05
Pension Claim Consulting Ltd successfully won a case on my behalf following misguided advice I received in relation to my pension. They were most proactive in the process and kept me fully informed every step of the way. I have no hesitation in recommending their services.
Deanamo 84
2024-02-05
Very professional, very thorough and very good at what they do. Always at the end of the phone or email for any questions at anytime throughout the process. I can’t recommend them enough.
Roger King
2024-01-16
Pension Claim Consulting managed to reclaim some of my pension by constantly chasing the company that fraudulently took my money. I though that I had lost everything. I cannot thank them enough on recovering some of my pension back.
Susan Stringer
2023-10-17
Excellent standard of service. The claim was protracted substantially by virtue of opponents trying hard to not accept any responsibility for their actions and not return the pension fund. PCC kept me fully informed throughout the process, obtained an excellent result for me.They also kept chasing the opponent when little action was taking place from them. The staff were always pleasant and helpful to deal with and very encouraging when I felt my claim was doomed to failure. I can not praise highly enough
Paul Wilshaw
2023-10-17
Very professional and informative from the beginning of our 5 year relationship. They talked me through every step of the process with what to expect. I would recommend Pension Claim Consulting to anyone who wants an honest and professional service.
Bill Cass
2023-10-16
Great team and they will get the best outcome they can always kept informed the process took a longtime not because of anything pension claims consulting did purely the pension sip provider playing games i would 110% recommend this company to pursue your claim without doubt best thing i have done they didn't give up on my claim even though I had given up on any good outcome however finally resolved and paid thank you pension claim consulting
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 Services Compensation Scheme, whichever is applicable to your claim.