18 February 2020 | Comment | Article by Ria Coleman
Guinness Mahon - the latest SIPP operator to go into administration
Yesterday, on 17 February 2020, Adam Stephens and Nick Myers of Smith and Williamson LLP were appointed as joint administrators of Guinness Mahon Trust Corporation Limited (“Guinness Mahon”).
The administrators immediately sold the business and certain assets to Hartley Pensions Limited, the firm that already owns the defunct Berkeley Burke, GPC SIPP Ltd and Lifetime SIPP Company.
This follows complaints in relation to Guinness Mahon’s acceptance of high risk and speculative investments into their SIPPs.
Complaints can now be directed to the industry’s lifeboat fund the Financial Services Compensation Scheme (“FSCS”).
If you invested via a Guinness Mahon SIPP and have lost money as a result, Hugh James’s Financial Mis-Selling team can help. Contact us today.
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