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Were you advised to change to a SIPP without understanding why?
If you, like many pensioners, were advised to move to SIPP with promises of high returns on investments made without being properly told why, then you may have a claim.
We can help you claim compensation for your mis-sold SIPP pension and help return your retirement benefits to you.
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Our 3 Step Process
Get in touch using our simple online form and one of our claims specialists will be in touch for a FREE full no-obligation review of your case to see if you have a genuine claim.
Once you’ve provided us with any relevant info you have, your claims expert will work on your behalf (we’ll even chase up your paperwork with the company if you can’t find it) so you won’t have to lift a finger.
While not all claims are guaranteed to win, at the conclusion of a successful claim, we will aim to get you the maximum compensation possible. As a No-win, No-fee claim, you only have to pay us fees in the event of claim success.
Our Successful Claims
Mr B received bad advice on Pension Transfers.
He was awarded £68,579 compensation.
Mr J received bad advice on Pension Transfers.
He was awarded £50,000 compensation.
Mr D received bad advice on Pension Transfers.
He was awarded £30,750 compensation.
*Disclaimer: the claim amounts above are representative of SIPP compensation claims actually seen in this sector, though the images used are not of actual claimants.
Get up to £375,000 Compensation for your Mis-Sold SIPP
Office hours: 9-5 Monday to Friday
SIPP, or a self-invested personal pension, is a type of pension in the UK that allows an individual greater flexibility and control over the investments they make with their pension pot. For many, it’s a great thing because it allows them to create a varied portfolio of investments that can help grow their pension fund over time.
But there can be a problem.
Many financial advisors and workplaces fail to properly warn people of the risks involved in having a SIPP. All too often investors transfer their money to high-risk investments through SIPPs on the advice of their advisor, without understanding the risks involved. This can lead to a serious loss of money, affecting pensioners, potentially, for the rest of their lives. SIPP mis-selling is a much more common issue than most realise.
You may have been mis-sold SIPP if any of the following applies to you:
It’s the job of the financial advisor to choose investments wisely when operating a SIPP on behalf of a client. Their role is an important one so it’s imperative that they keep you informed at every stage. If they fail to do so, you may be entitled to compensation.
Check with us if you qualify for a claim today for free. It’s a no-win, no-fee when you work with Claim Depot.
Get up to £375,000 Compensation for your Mis-Sold SIPP
Office hours: 9-5 Monday to Friday
It’s your financial advisor’s job to ensure that the investments they choose for you whilst you’re using a SIPP are in line with your objectives. If you’re somebody who is adverse to risk and you’ve explained this to your advisor, and yet they continue to invest in risky projects, organisations, or companies on your behalf – then SIPP mis-selling may have taken place.
They must align your investments with your aims, objectives, and needs. Failure to do so is a failure on their part, and you may have a claim for compensation if they go against your wishes.
Claims Depot is a trusted claims company with a range of specialisations – but most important to you is our experience in handling mis-sold pension claims. One area we’ve worked extensively in is mis-sold SIPP pension claims, a common problem in the pension industry in recent years.
With years of experience you know we can handle your claim with expertise and unrivalled industry knowledge. And there are a few other benefits when you work with Claims Depot, too:
Get up to £375,000 Compensation for your Mis-Sold SIPP
Office hours: 9-5 Monday to Friday
One obvious sign that making a mis-sold SIPP claim may be worth it (and not only worth it but necessary) is a huge loss in pension funds since switching to SIPP. This is a major red flag that your financial advisor is not investing in the right areas so a compensation claim may be successful – so long as you didn’t expressly agree to a risky investment with full knowledge of the risks involved.
If you feel you’ve been left in the dark about SIPP investments and you’ve experienced losses, then see if a claim is viable with Claims Depot today.
Some more signs that a claim for mis-sold SIPP compensation may be worth it are:
If these apply to you, check if you could make a claim with us today.
Below are some of our most commonly asked questions about mis-sold SIPP:
Many industries and products are affected by unregulated and risky investments through SIPP. Nowhere is this highlighted better than the Financial Conduct Authority’s (FCA – a financial regulatory body responsible for ensuring financial markets are honest, fair, and competitive) statement that there had been ‘serious and ongoing failings’ by a number of financial advisors regarding SIPP investments.
Some of the industries and products that are seen as risky investments (meaning if your SIPP financial advisor invested in these areas on your behalf without explaining the risks you may have a claim) are:
There are other examples – so if you feel you were mis-sold SIPP and your investments have lost you money – then you may be entitled to compensation.
Check if you qualify for a claim with us today.
The FCA has estimated that approximately 30% of all SIPP advice may have been unsuitable, meaning approximately 30% of all SIPPs were mis-sold. They also revealed that around 10% of all investments made by financial advisors under SIPP involved non-standard assets or particularly risky investments.
As of January 2023, there were an estimated 800,000 SIPP investors, and it still seems to be on an upward trend.
If the FCA’s estimations are correct, approximately 240,000 people could be affected by mis-sold SIPPs. If you think that might be you, contact Claims Depot today.
Working with us for your mis-sold SIPP claim couldn’t be simpler:
Check If You Qualify | The first thing you need to do is check if you actually have a claim. This is a completely free service. All you need to do is fill out our simple form online with some quick details to get the ball rolling. |
Talk With Our Team | If one of our claim handling specialists thinks you might have a case, they’ll be in touch to gather more information from you about your SIPP and why you feel it may have been mis-sold. |
Evidence Collection | Our claim handlers will then set to work collecting evidence if they agree you might have a case. Don’t worry if you don’t have the paperwork to hand (although it’s helpful if you do), we can always collect it from the pension companies themselves. |
Argue Your Case | As soon as we’re ready, we’ll start setting out your case and requesting an appropriate compensation amount. Not all claims will win, but we’ll do our best for you. |
No-Win, No-Fee Compensation | At the conclusion of a successful claim, we’ll take a fee, but if you don’t win, you don’t pay us anything! After our fee, the rest is yours. |
On average, most claims will reach a conclusion within 6 months. This might sound like a long time, but for many of the claims our clients are making, financial advisors and SIPP providers may have stopped trading.
When this happens, we’ll need to seek compensation on your behalf from the Financial Services Compensation Scheme – which takes on average 6-12 months to conclude.
Some may take longer and some may be significantly shorter. We can give you a better idea of how long your specific claim may take when you reach out with your details.
Claims Depot is a registered trademark of Tower Hill Group Ltd. ClaimsDepot.co.uk is a trading name of Tower Hill Group Ltd.
Tower Hill Group Ltd is a Claims Management Company regulated by the Financial Conduct Authority. Firm Reference Number 930865.
Tower Hill Group Ltd does not charge any upfront fees, If you cancel your agreement after the 14 day cooling-off period you may be charged a cancellation fee.
Occasionally we may pass your details over to a FCA or SRA licensed claims partner to handle your claim, our claims partners do not charge any upfront fees, however if you cancel after the 14 day cooling off period you may be charged a cancellation fee.
Tower Hill Group Ltd may receive a fee for referring your details to a claims specialist in the event that you engage them to represent the claim on your behalf. Any fee we receive is paid directly by the specialist and funded from their standard fee structures. You will therefore not be charged any more than if you had approached and engaged the firm independently.
Tower Hill Group Ltd is a limited company registered in England & Wales, registration number 12620190.
Tower Hill Group Ltd is registered with the Information Commissioners Office (ICO), registration number ZA760652.
The registered office is 124 City Road, London, UK, EC1V 2NX.