Mis Sold SIPP Claims

Mis-Sold Pension Claims with Lincoln Green Solicitors

Lincoln Green Solicitors are experts in assisting consumers claim compensation for mis-sold SIPPs. Our dedicated team of SIPP experts is here to assist you in recovering your money, thus, helping you secure your financial future. With our extensive experience and commitment, we aim to provide you with the legal support you need to navigate the complexities of this type of financial compensation claim.

What is a Mis-Sold SIPP?

SIPP Mis-selling occurs when a financial adviser fails to investigate or explain the risks associated with transferring an existing pension plan to a SIPP (Self-Invested Personal Pension), resulting in financial losses. For instance, a mis-sold SIPP may contain high-risk, unregulated investments that do not align with the client's risk profile.

Financial advisers hold a critical responsibility in selecting SIPP investments. They are obligated to align investments with the customer's needs, objectives, and risk tolerance. This involves thoroughly evaluating each investment option and ensuring the client is well-informed about potential risks. Despite these duties, some advisers place clients' funds in risky ventures without adequate disclosure.

In many cases of SIPP mis-selling, the client is misled about the performance of the investments within the SIPP. This is often done by an unregulated introducer or a financial adviser who cold-calls individuals, offering a free review of their existing pension. This tactic persuades people to transfer their pension into a SIPP, often promising high returns but downplaying the associated high risks.

To fulfill their responsibilities, advisers must maintain transparency and prioritise the client's best interests. This includes a comprehensive assessment of the client's financial situation and a clear detailed assessment of the risks involved in any investment strategy.

Why are SIPPs not Suitable for Everyone?

SIPPs are not suitable for everyone due to the nature of their investments. These pension schemes often include high-risk, unregulated investments that require a certain level of investment experience and risk tolerance.

A person with little investment experience or understanding of the risks associated with such a pension scheme may find a SIPP unsuitable. Despite this, many financial advisers have recommended SIPPs or facilitated transfers into SIPPs, which have not been in the best interest of their clients. This unsuitable financial advice has led to many individuals losing their pension funds.

The consequences can be devastating when a person's pension is mis-sold into a SIPP. The pension fund can be ploughed into unregulated investments that perform poorly, sometimes to the point where the entire pension fund is lost. If you have been invited to invest in, storepods, wines, forestry, biofuels, or off-plan property both in the UK and abroad such as Harlequin or The Resort Group, or any other type of investment where you have no previous expertise then please call us.

While SIPPs can be a valuable investment tool for some, they are unsuitable for everyone. It's essential to seek appropriate financial advice before transferring your pension into a SIPP.

Do You Have a Mis-Sold SIPP Claim?

Acting as soon as possible is essential if you think you have a mis sold SIPP. We would recommend that you make a claim within 3 years of discovering there is an issue with the investments held within your SIPP.

You may have a claim for compensation if:

• Your financial adviser encouraged you to change your investments without properly explaining the reasons why.
• Your SIPP pension has fallen in value despite assurances from your financial adviser that it would increase.
• Your financial adviser failed to properly inform you of factors that could reduce the value of your investment.

If you suspect you may have been mis-sold a SIPP, then we can help. Seeking advice to investigate and help ensure your pension pot is well looked after is essential. Please check your annual statement and if the value of your investments is less than the sum you invested then please call us on 0300 303 3819.

Your Mis-Sold SIPP Claim

When you want to claim mis-sold SIPP compensation, it is often difficult to know where to start or what you need to establish to prove your case. Luckily, you're in the right place. Our Lincoln Green Solicitors Ltd team is experts at unravelling SIPP pension claims and getting the best possible outcome for you.

Many of our clients have previously trusted and relied upon information that has been given to them by their Independent Financial Advisor (IFA) or have been cold-called and asked if they would be interested in having a "free pension review". If you followed the advice of your IFA and have now lost money on a SIPP (Self Invested Personal Pension plan), please get in touch with us to find out if we can help you claim compensation.

We have found that clients are often persuaded to transfer their existing pension plans into a SIPP because the advisor suggests they can earn a better return elsewhere. Unfortunately, many clients will discover that in order to get better returns, they could be exposed to bigger risks and lose some, if not all, of their pension fund.

How pursue your Mis-Sold SIPP Claim

Making a mis-sold SIPP claim may seem complex, but the process is streamlined for convenience with Lincoln Green Solicitors. Our process will entail collating and considering all of the evidence, and then making a SIPP claim on your behalf to the IFA that visited you, or the SIPP provider, and potentially either to the Financial Ombudsman Service (FOS) or the Financial Services Compensation Schemer (FSCS).

Why not call our SIPP claims experts today on 0800 303 3819 to discuss your case?

Other Services We Offer

In addition to our expertise in mis-sold pension claims and mis-sold SIPP compensation claims, we offer other financial compensation services.

Make a SIPP Claim With Us

No matter the financial injustice you've experienced, Lincoln Green Solicitors is here to fight for your rights and help you recover the compensation you deserve. If you are ready to take the first step in reclaiming your financial security or have questions about our services, contact our team at 0300 303 3819 or complete the contact form, and we will respond promptly.