Have you invested into a SIPP through Rowanmoor? Have you been left out of pocket because of poor financial advice? Our Mis-sold SIPP team can help you claim back your money.
Pension provider, Rowanmoor, is facing hundreds of complaints after a lack of due diligence involving many of their investments. If you have invested your pension through their company and are now left with much less than you had hoped for, you may be able to claim compensation.
At Smooth Commercial Law, we have an expert team of mis-sold SIPP claims specialists, with extensive experience in claiming the maximum compensation for investors who have suffered financially because they have been victims of SIPP mis-selling.
Our mis-sold SIPP team at Smooth Commercial Law can help you make a quick, hassle-free claim for compensation. Our initial consultation is free of charge, and we will tell you if you are eligible to claim.
Who are Rowanmoor?
Rowanmoor claim to be one of the UK’s leading pensions providers, with a wide range of self-invested pension options. The Rowanmoor SIPP was first launched in 2009 and included single investment and full investment SIPP options.
Rowanmoor first hit the headlines in 2020 when it faced hundreds of complaints around the performance of their investments, particularly the offshore property scheme The Resort Group. These overseas investments were promoted by Rowanmoor, and offered “20 per cent” annual returns on investment.
The Resort Group investors were often introduced by unregulated financial advisers, and many investors were not suitable. Investors were also not made aware of the high risk nature of the investment.
The FOS received hundreds of complaints about the lack of due diligence carried out by SIPP providers, with the majority of complaints being against Rowanmoor. If you have invested money through Rowanmoor, you may be entitled to compensation. We’d advise getting in touch as soon as possible.
What is a mis-sold SIPP?
SIPPs were introduced in 1989 as a method for individuals to take greater control of their pensions pot. They were created, however, for experienced investors due to their risky nature. These investors would be able to take more risks, but the financial product was never intended for the general public.
SIPP transactions are sought after by financial advisors due to the high fees that are involved. This leads to many advisors telling their clients to transfer into a SIPP even when it is not suitable. A lot of the time, it is simply for the commission.
Savers can lose thousands by investing their money into SIPP schemes which are very high risk, such as overseas property investments, plantations, storage pods and car parks. If the risks are not properly explained by their financial advisor, they are liable.
Smooth Commercial Law have seen that a lot of advisers have advised clients to transfer their existing pension into a SIPP and then to invest into one of a number of unregulated high risk, dodgy or inappropriate investment schemes which have ended up being complete disasters. These might include, for example:
- Overseas investments
- Hotels and holiday properties
- Green energy
- Biodiesel and environmental projects
If you have been affected and have lost money as a result of invested into a SIPP, our friendly can potentially help you claim a big portion, if not all of it, back. Get in touch to find out if we can help.
Rowanmoor SIPP is “closed for business”
In August 2020, Rowanmoor officially closed down the SIPP part of the firm for any new business. It confirmed on its website that it would remain open for its existing clients, but was not opening any new accounts up.
All new enquiries are now directed to Embark Pensions.
How can Smooth Commercial Law help?
At Smooth Commercial Law, our team of experts have experience in dealing with a whole manner of claims that arise from negligent, fraudulent and/or unsuitable financial advice, including unsuitable transfers from pensions. We are seeing an increase in claims for mis-sold pensions and unsuitable investments, and have managed to secure compensation for many of our clients.
Should you have a claim against Rowanmoor for negligent financial advice, we can deal with your case and look to recover compensation for not just your loss of investment but also any adverse tax liabilities that you may now be facing as well.