Carey Pensions have provided many with unsuitable self-invested personal pensions. If you believe you have been affected, you could be owed thousands in compensation.
Carey Pensions, now known as Options, is a SIPP provider in the UK. They have persuaded thousands of UK residents to invest their pension pot into a self-invested personal pension (SIPP). These pensions are often high-risk and unsuitable for many.
Thousands have lost money after the high returns they were promised have never materialised. These investments are well-known, notorious investments like Ethical Forestry, Global Plantations and Store First storage pods.
If you have lost money as a result of Carey Pension providing a SIPP, Smooth Commercial Law can help you claim compensation. We can help you file a claim against Carey Pensions and potentially return you to the financial position you were in before you invested.
Get in touch with one of our expert pensions solicitors today for a free initial chat about your case.
Have I been mis-sold a SIPP?
In many cases, Carey Pensions mis-sold a SIPP to their investors due to their high-risk nature. If any of the below apply to you, you may be eligible to claim:
- Salesmen pressured you into investing
- Transferred into an unsuitable scheme
- There were unexplained or undisclosed fees
- Risks were not explained
- You have lost money as a result of the SIPP
Our friendly team are able to tell you if you have an eligible case. Get in touch today to find out if you can claim compensation.
What is a mis-sold SIPP?
Mis-sold SIPP cases involve individuals setting up a SIPP and then following advice from an adviser (often unregulated) investing into one of a number of unregulated high risk investments.
In essence, a SIPP is a DIY pension pot which allows you (the investor) to invest in multiple and more varied investment products than most standard pensions, including a wide variety of schemes, many of which are perfectly legitimate.
Unfortunately, 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 and 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
- storage firms
- parking investments
A major problem associated with SIPPs mis-selling has been the hype and overselling of benefits with many advisers overstating the fantastic, not-to-be-missed investment opportunities and the promises of massive returns, in very short timescales, which never materialised and later turned out to be simply untrue.
The Financial Conduct Authority has reported “serious and ongoing failings” by a number of financial advisers with regards to investments through SIPPs. The main failings generally revolve around advisers not ensuring SIPP investments are safe and suitable for their investors’ needs.
How will I fund my Carey Pensions compensation claims?
If we believe you have an eligible, we will offer to act for you on a strictly NO-WIN NO-FEE BASIS. In essence, if we lose your case you do not pay us any fees. If we win, we take a percentage of your damages upon the conclusion of the case. This is called a Damages Based Fee Agreement.
How can Smooth Law Commercial help?
Have you had dealings with either Carey Pensions? Do have a SIPP which has left you out of pocket after the promised returns never materialised? Smooth Commercial Law can help.
We are acting for a number of clients who were advised by both regulated and unregulated advisors to transfer money out of their traditional pension into a SIPP, and to then invest significant sums of money into high risk investments.
For most, these investments are completely unsuitable are only appropriate for high net worth individuals or sophisticated investors.
At Smooth Commercial Law, our team of experts have extensive experience in dealing with a whole manner of claims that arise from negligent and/or unsuitable financial advice. We are seeing an increase in claims surrounding SIPP providers like Carey Pensions, and have managed to secure compensation for many of our clients.
Should you have a claim, 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.
Contact Smooth Commercial Law
📍 104 Mere Grange, St Helens, WA9 5GG
👨💼 Scott Birchall, Director, Smooth Commercial Law