Henderson Carter Associates and Mis-Sold SIPPs
Did Henderson Carter have a hand in your pension transfer into a SIPP?
Many can tell a similar tale, and many of those people were mis-sold their SIPP pensions and investments.
Henderson Carter Associates is no longer operating, having lost it’s FCA permissions, meaning it must “cease all pension business” especially where “Holistic Wealth Management, Hennessy Jones Limited and City Administration Limited” are concerned, or where business is in relation to “pension switches and/or pension transfers to any self-invested personal pension (SIPP)”.
We know from experience that Henderson Carter was involved in high-risk investments, such as Carbon Credits and The AIGO Fund.
As of March 2017, Henderson Carter Associates Limited is in liquidation.
Get started nowCan you make a Henderson Carter SIPP claim?
Several financial advisers and the FSCS have been paying out compensation for mis-selling investments via SIPPs and SSASs for a few years, including in relation to Henderson Carter with Spencer Churchill Claims Advice often leading the claim on a No Win – No Fee* basis.
If you:
- Transferred your pension to a SIPP
- Made high-risk investments
- Aren’t earning over £100k per year
- Aren’t a Sophisticated Investor
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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What did Henderson Carter do?
Henderson Carter Associates was a financial advice firm, regulated by the FCA to give advice on both pension investments and final salary pension transfers.
Unfortunately, they didn’t always get their advice correct for their customers, widely mis-selling pension transfers and high-risk SIPP investments to clients they were unsuitable for.
When we say unsuitable, we mean that the risk profiles of the clients did not match the new pension arrangements, exposing them to more risk than they can handle.
Unfortunately for many of the clients of Henderson Carter Associates, some of the high-risk schemes their clients were advised to invest in collapsed, such as Carbon Credits, and others have been struggling such as The Aigo Funds.
Henderson Carter Associates Timeline
2009 - Henderson & Dumbleton Limited
2016 - Cease Pension Transfers
In September 2016, the FCA let it be known that 3 financial advice firms had been told to cease all pension transfers, and told not to dispose of any assets with prior consent.
One of those firms was Henderson Carter. Another was Financial Page – another firm linked to the selling of the AIGO funds.
2017 - Declared in Default
In April 2017, the FSCS declared that Henderson Carter Associates was in Default, along with another 11 firms.
This meant that the FSCS was reasonably assured that Henderson Carter could no-longer pay compensation to former clients, and that the FSCS would consider claims made against them.
2018 - FSCS Bill Hits £6m
Carbon Credits & AIGO Funds
While not everyone who dealt with Henderson Carter Associates will have been mis-sold (we hope!), many people were advised to invest via a SIPP into either Carbon Credits or the AIGO Funds.
Carbon Credits were a way of trading carbon in market effectively created by the Kyoto agreement. A high-risk unregulated investment scheme, they were designed to save the world and make investors some big returns. Sadly, in most cases they did neither, and many Carbon Credits investment schemes collapsed, losing investors £millions.
The AIGO Funds were also high-risk, non-FCA regulated funds that invested in Commercial and residential property, and natural resources. They got into difficulty a few years ago and many people who invested in them may have also lost money.
Henderson Carter shouldn’t have been recommending these investments to average investors, but we know from experience that this was often the case, with many people being mis-sold.
Get started nowRelated to Henderson Carter
Henderson Carter Associates FAQ's
Is Henderson Carter still operating?
No.
The firm was told to cease all pension business by the FCA, declared in default by the FSCS and went into liquidation in March 2017.
This means that claims made against Henderson Carter are directed by the team at Spencer Churchill Claims Advice to the FSCS, putting all of our experience of winning £50m from mis-sold pension claims behind every claim we make.
Who are Hennessy Jones?
The FCA told Henderson Carter Associates not cease all pension business, giving special mention to concerns ‘with respect to the adequacy of the Firm’s pensions advice, including, but not limited to its relationship with (i) Holistic Wealth Management Limited […] (ii) Hennessy Jones Limited […].
Hennessy Jones Limited was an appointed representative of Henderson Carter Associates of Henderson Carter between Dec 2013 and March 2015, but is no-longer registered as an appointed representative (AR).
It was also an AR of Financial Page Ltd between Sept 2014 and July 2015 – another financial advice firm connected to the mis-selling of the AIGO funds.
