What is a SIPP?
A SIPP is a pension vehicle. With a SIPP you have more choice and control over what you choose to invest in and you can invest in unregulated products. SIPP’s are designed for people who want to manage their own funds and have more flexibility in respect to switching their investments. SIPP’s have been used as a platform to invest in high-risk funds and illiquid assets which have resulted in financial loss for many of our clients.
What is an unregulated investment?
An unregulated investment is an investment that is not regulated by the Financial Conduct Authority.
Examples of these unregulated investments include:
- Harlequin property investment
- The Resort Group
- Store Pods
- Sustainable Agroenegy
- Green Oil
- Los Pandos Development
- Global Forestry
- Ethical Forestry
- Cape Verde
- Elysian Fuels
- Global Cure Environmental Investment
- Parking investments
- Australian Farmland
Due to the high risks involved, these investments are usually only suitable for experienced and sophisticated investors; they are not suitable for an ordinary or inexperienced investor.
How do I know if I have been mis-sold a pension?
A pension may have been mis-sold to you if one or more of the following statements is true:
- The risks involved were not properly explained to you
- Your personal circumstances were not properly considered by your financial adviser
- You were of an age for the transfer and investment to be deemed unsuitable for you
- You were not properly advised on how your money would be invested
- Your financial adviser did not carry out a ‘fact find’ exercise to establish your financial circumstances and objectives
- Your attitude to risk or capacity for risk were not properly considered
- You were not provided with any specific advice in respect of the underlying investment
If you have been mis-sold a pension, speak to our expert mis-sold pension solicitors today, to find out how we can help you recover your money.
I’ve been mis-sold a pension, what should I do?
Your financial adviser has a duty to check that the proposed investment is sound and that the recommendation to invest is suitable for you. If you believe you have been mis-sold a pension and lost money due to unsuitable advice, you need to act fast. There are strict time limits for bringing a claim.
Hugh James’s expert Financial Mis-Selling team will be able to guide you through the process to recover your money and can represent you on a “no win, no fee” basis. If you have been mis-sold a pension, speak to our expert pension mis-selling solicitors today, to find out how we can help you recover your money.