Troubled SIPP provider, Carey Pensions, bought by rival

Troubled SIPP provider, Carey Pensions, bought by rival

STM Group has bought Carey Administration Holdings, which owns 70% of SIPP provider.

Today it was confirmed that STM Group bought the embattled SIPP provider, Carey Pensions, along with Carey Corporate Pensions UK. The acquisition, however, is still subject to FCA approval.

Who are Carey Pensions?

Carey Pensions has been in the news of late due to an ongoing case with a former customer, Russell Adams, who accused the firm of mis-selling a SIPP. Adams’ legal representatives accused the firm of being “in bed with scammers” after it was alleged Carey Pensions used a Spain-based unregulated introducer, in order to achieve investment in Store First unit pods. 

Adams invested £50,000 into these pods in July 2012. His investment is now worthless.

How can Smooth Commercial Law help?

We are acting on behalf of a number of clients against Carey Pensions in relation to mis-sold SIPPs. Our team of experts have extensive experience in dealing with a whole manner of claims that arise from negligent and/or unsuitable financial advice, including mis-sold SIPPs.

If you believe you have a potential claim, against Carey Pensions, or any other SIPP provider, get in touch with our experts today. You can also find out more about Carey Pensions here

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.