While the pension mis-selling crisis lumbers one, it is financial advisers that have taken the brunt of the responsibility for the lost pensions caused by bad transfers, often into SIPPs.
But a survey by Dentons of 55 advisers showed that many in the industry expect big changes in 2018, with a case against Carey Pensions having the potential to spark that change.
High-risk investments in SIPPs
Much of the current pension mis-selling crisis involved transferring pensions into SIPPs in order to invest in HIGH-RISK investments (although the clients are often not aware that the investments are high-risk).
But while many SIPP providers profit from this in the form of management fees, and accept the business, there have been few cases of them truly being held responsible.
But that may be about to change.
Claims against SIPP providers
It is believed by many that if Carey Pensions loses its appeal in the courts, it may be that the door will be opened more readily to claims against SIPP providers in the future.
Let’s Rewrite Your Financial Story
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
When you get let down by someone you thought you could trust, it can leave its mark on you, emotionally and physically.
We are committed to transparency and fairness in the way we conduct with clients, including how we charge for our claims services.
Speak to an expert today
We have decades of experience in helping people claim back money that is rightfully theirs. Whether you want to make a mis-sold pension claim, have questions about a mis-sold investment, or you’re just looking for some advice you can trust – we’ve got you covered. Reach out to our team today for a no-obligation, completely free chat.
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