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FSCS to look at Hartley Pensions SIPP Claims as the firm falls into administration

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On Friday 29th July Hartley Pension fell into administration, the firm has been under investigation by the Financial Services Compensation Scheme (FSCS).

The firm also trades under Recovery SIPP, Resolution SIPP, and Hubwise Hartley SIPP. The FCA had placed restrictions over the trading for the past few months while investigations were ongoing after there had been multiple SIPP claims made.

In February the FCA issued an asset restriction order meaning it could not sell or dispose of assets without informing the regulator.

Previously Hartley Pensions had been banned by the FCA preventing it from accepting ongoing contributions into self-invested personal pensions (SIPP) and self-administered pension schemes (SSAS). The restrictions meant that clients could no longer make any new or ongoing contributions to their SIPP or SSAS.

If you have been advised to transfer your pension into a SIPP or SSAS which is no longer performing as you were told it would, you may be eligible to make a claim.

A self-invested personal pension (SIPP) is a scheme which is quick to set up and gives the individual a wide range of choice of investment opportunities. However, not all of these opportunities are suitable, some are high risk and sadly professional investment advice has fallen short of FCA standards.

If you had been advised to invest in a high-risk investment, then you could have a claim for any of the losses.

Our experienced team deal with this type of claim every day, if you would like to find out more information about your underperforming SIPP then speak to a member of the team today.

You can find out more: Mis-Sold SIPP Pension Compensation Claims - Smooth Commercial Law ( alternately you can fill out the contact form or call 0800 0469976.