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Mis-sold Liberty SIPP pension

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On 27th April 2020, Liberty SIPP Limited entered into administration, with Leonard Curtis being appointed as the administrator.

EBS Pensions Limited bought Liberty SIPP’s business and customer assets in October 2018 but the entity itself was not and as a consequence the entity no longer has any of its previous customer assets under administration.

Liberty SIPP were advised that due to a number of binding decisions from the Financial Ombudsman Service (FOS), they were insolvent based on the amount of potential claims that related to high-risk non standard investments. Additionally, they was advised that to provide protection for creditors and former customers, they should enter into administration.

The Liberty SIPP timeline

  • Core company founded

    2007

    In 10th September 2007, Liberty SIPP were incorporated as a limited private company.

  • Sold To EBS Pensions

    2018

    In October 2018, The Liberty SIPP Limited business and customer assets were sold to EBS Pensions Limited, part of the Embark Group, which later rebranded Liberty SIPP as Option SIPP.

  • Administration

    2020

    In April 2020, Liberty SIPP fell into administration, after they were advised due to a number of conclusive decisions from the Financial Ombudsman Service (FOS).

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Do you know how people complained about mis-sold investments and pensions in the last year?

A lot. Over twenty thousand complaints were made about mis-sold pensions and investments in 2020/21, a figure which had doubled since the year before.. It’s no secret how serious this problem is, and it just seems to keep getting worse.

People receive poor financial advice every day. Sometimes they don’t even realise that they’re owed whopping amounts of compensation.
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