Are You Eligible To Seek Compensation For Your SIPP? | Setfords

Are you eligible to seek compensation for your SIPP?

Have you been mis-sold a self-invested personal pension? Speak to our team to find out if you are eligible for compensation.

If you’ve suffered financial loss having invested into a self-invested personal pension (SIPP) based on the promises of guaranteed high returns from a pension company or independent financial adviser then you are likely to have an eligible claim.

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How do I know if I’ve been mis-sold a SIPP?

There are several key factors that will point to whether you have been mis-sold. Check the criteria below to see if any of the points match your situation:

  • Were the risks explained?
    Did the advisor explain the risks attached to your SIPP at the point you agreed to invest?
  • Were you pressured?
    Did the pensions company or advisor pressure you into investing your pension into something you didn’t want or need at the time?
  • Was the scheme suitable?
    Did the advisor suggest you transfer your existing private pension fund to a higher return scheme even though it wasn’t suitable for your needs?
  • Were there any unexplained costs?
    Were you presented with any surprise fees or additional costs that you weren’t made aware of from the start?
  • Have you suffered financial losses?
    Based on the investment, have you made significant losses?

If you believe any of the points above to be true then speak to one our expert financial claims lawyers to discuss your matter further and see whether you’re eligible for compensation.

Latest News: Berkeley Burke v FOS Legal Case

Berkeley Burke Lose Case

Sipp provider Berkeley Burke has had its claim for a judicial review against a decision by the Financial Ombudsman Service (FOS) dismissed.

In 2014 the FOS found that Berkeley Burke was responsible for failing to perform the required due diligence over accepting unregulated investments it accepted.

Berkeley Burke launched a legal challenge against this decision. It claimed that as a Sipp provider it did not have a regulatory duty to ensure all investments were suitable.

However Justice Jacobs found that the FOS followed Financial Conduct Authority guidelines when making its decisions. He has therefore dismissed the appeal claim.

Source: Citywire, 30/10/18

Our experts will handle your case

Michael Cotter

Consultant Solicitor Advocate,
Financial Services & Litigation Lawyer

Solicitor Advocate and financial services Lawyer, Michael Cotter offers expertise in regulated industries including pensions, financial products and investments.

From complicated regulated-services fraud, to emerging unregulated schemes that target unsophisticated investors, Michael is an experienced litigator advising clients in multi-million pound actions against investment services.

Adept at complicated class-action claims and a professional negligence expert, Michael most recently assisted in the recovery of over £25m to investors as the lead lawyer in the matter against Arck LLP and those connected. Having uncovered the fraud that affected over 250 clients, he took action to successfully assist with the return of millions from the Yorkshire Bank for those victims. This case lead to the prosecution of the directors of Arck LLP following an investigation by the Serious Fraud Office.

Michael also assist clients in Judicial Review proceedings against the Financial Services Compensation Scheme and Financial Ombudsman Service.

As a regular media commentator for titles such as The Times, The Financial Times, Money Mail, Professional Adviser and Citywire Michael is at the cutting-edge of evolving markets and industry trends.

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Making a claim can seem a daunting process. We keep matters simple for you, assemble your evidence, and put the relevant arguments forward to support your claim. Complete our form below to get started.