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SIPP Pension Mis-selling
SIPP, or Self-Invested Personal Pension, is a flexible and popular retirement savings option. However, some financial advisors have mis-sold SIPPs, leading clients to invest in unsuitable and high-risk schemes without fully understanding the potential consequences.
Mis-selling occurs when a financial adviser fails to investigate or explain the risks associated with transferring to a Self-Invested Personal Pension (SIPP), leading to financial loss for the individual.
If you’ve suffered losses due to unsuitable pension advice, X-Claims can assess whether you’ve been mis-sold a SIPP and help you recover your lost funds.
If you believe you have been a victim of SIPP pension mis-selling, you could be entitled to compensation. We operate on a no win, no fee basis, meaning you won’t pay us anything if your claim is unsuccessful.
Common Reasons for SIPP Mis-selling Claims:
- Unsuitability: You were advised to invest in a high-risk SIPP without proper consideration of your risk tolerance and financial circumstances.
- Lack of Information: Your financial advisor failed to fully disclose the risks associated with the SIPP investment, leaving you uninformed.
- Negligent Advice: You received inadequate advice or were not given alternative options to consider for your retirement savings.
Why Use Us?
At X-Claims, we are experts in handling SIPP pension claims. Our team of experienced professionals has successfully assisted clients in reclaiming their financial losses due to mis-sold SIPPs. Here’s why you should trust us with your SIPP compensation claim:
Specialised Knowledge: We have an in-depth understanding of the complex SIPP pension landscape and the mis-selling practices that may have impacted your investment.
Proven Track Record: Our track record speaks for itself, with a high success rate in securing SIPP compensation for our clients.
Compassionate Support: We understand the emotional and financial stress caused by SIPP mis-selling. Our empathetic team is here to guide you every step of the way, providing reassurance and clarity throughout the process.
Here is a list of Pension Providers who have been connected to SIPP Mis-selling cases. This could be due to their SIPP’s being wrongly recommended by other regulated or unregulated parties such as Financial Advisers or Introducers. Or the Pension Provider themselves may have failed in their regulatory obligations:
The Dolphin Trust
Harlequin Properties
Avalon
Beaufort Securities / Beaufort SIPP
Berkeley Burke
Brooklands Trustees Limited
Carey Pensions UK LLP
Corporate & Professional Pensions Ltd
DAC Pensions
Forthplus Pensions Ltd
Greyfriars Asset Management
Guardian – GPC SIPP Ltd
Guinness Mahon
Hartley Pensions
Heritage Pensions Ltd
Liberty SIPP
The Lifetime SIPP Company Ltd
London & Colonial Services Ltd
Pointon York Ltd
Rowanmoor
Stadia Trustees Limited
Westbury Private Clients & Westbury SIPP
You do not need to use a claims management company to make a claim. You can do this yourself for free, and if your claim is unsuccessful you can pursue it yourself with the Financial Ombudsman Service. If your product provider or your financial advisor is no longer in business, you may be able to use the Financial Services Compensation Scheme (subject to their Rules).
X-Claims Limited is authorised and regulated by the Financial Conduct Authority – FRN: 829746
What Our Clients Say
We have hundreds of happy clients, read their reviews of our service
Successful Claim – Dr K – Aug 22
“I have great pleasure in writing a testimonial for Mrs Lorraine Williams working for X Claims an organisation fighting injustice for clients since 2006. I have known her since we contacted her in March 2019 when we learnt a policy pension taken out by us with Wesleyan was wrongly sold to us in 1997. She is part of a task finish group who investigated and conveyed the information at every step of the way. All this has given me a good insight and knowledge in her capabilities. Lorraine is hardworking, efficient, reliable, confident, has good organisational skills and excellent communication skills. All information given to me was in good faith and explained well keeping to their limitation so not giving their own advice. She is sincere, reliable, considerate, thoughtful, eloquent, attentive, obliging, and trustworthy. She is proactive and focused and I highly recommend her and her organisation to everyone. I wish her success.”
Successful Claim – Dr B – Jan 23
“I was one of many doctors persuaded- via the medium of a free sandwich – to join a Wesleyan freestanding AVC pension instead of buying extra NHS years in the 1990s. I switched to another scheme a decade later but I discovered both were mis-sold, the first by concealing from me the benefits of added years and the second by downplaying my NHS pension prospects on the AVC registration documents. Lorraine, Howard and the X-Claims team were recommended by a colleague who was similarly mis-sold a Wesleyan pension. Looking back, I am amazed at how financially naive we were! X-Claims is a reputable and trustworthy service and secured me compensation for both these pensions. The form filling process was made easy and both Lorraine and Howard provided clear and helpful advice, no doubt honed from decades of fighting complex cases for their clients. For one of the two cases, we went to the ombudsman twice (!) before getting compensation. I have never put in an official claim for anything in my life so this was unfamiliar territory but they were reassuring and sensible. I am happy with the outcome and wholeheartedly endorse their service to anyone wavering about making a claim.”
Successful Claim – Dr R – Jan 23
“Lorraine Williams and her team have proven to be tenacious and patient in making representations to Sanlam and Sun Life Financial of Canada, which has resulted in over £60K in compensation being recovered.
I have recommended X-Claims to a number of colleagues, who are of a similar generation to me, in the 1980s – 1990’s who were heavily pressured and oversold into purchasing Free Standing Additional Voluntary Contributions (FSAVCs) as a way of maximising our pension pot at the start of our NHS Careers.
I thoroughly recommend X-Claims as a relatively stress free way to recoup money that was paid as commission to ‘Financial Advisors’ pedalling their financial products inappropriately to Junior Doctors on NHS Final Salary Pension Schemes.”
Other Types Of Claim
FSAVC Compensation
FSAVC(s) pensions have been mis-sold to thousands of people. If you have an FSAVC it is worth checking to see if you have been mis-sold.
SIPP Pension Compensation
SIPP mis-selling occurs when financial advisers convince pension holders to invest their money into a SIPP scheme that promises higher returns on very risky, (and often unregulated) investments.
Pension Opt Out
An opt-out is where you could have been a member of an occupational pension, particularly a “defined benefit” or “final salary” scheme and you were told to ‘Opt Out’ and purchase a personal pension instead.
Investments & Bonds
Investment misselling occurs when you have received deliberate or misleading advice, where the investment was misrepresented or unsuitable.
Mortgages
Mortgage mis-selling occurs when it is improperly sold to a borrower. Mortgages were only regulated from contracts which were entered into on or after 31st October 2004.
Pension Transfers
You may have been persuaded to transfer out of your original occupational pension scheme into a personal one. Any transfer out of an occupational scheme could be a mis-sale.
Personal / Stakeholder Pension
These types of pensions may have been unsuitable for you if you had the option to purchase added years or contribute to your In-House AVC, and especially if you had no private earnings.
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