Liberty SIPP has finally been placed in default. It has been reported that over 1696 claims have been logged against the firm.

Whilst the firm’s assets were sold to the Embark Group (EBS Pensions Limited), the legal entity was not included in the sale, meaning the firm continued to be responsible for any complaints.

Pension Transfer To Liberty SIPP

However, most people don’t understand that claims against the responsible IFA firms have to be completed before the FSCS will look into any case, especially if the IFA’s have been holding the client’s hand and explaining it wasn’t their fault that the investment was fraudulent etc.

So if you were advised by an adviser that’s still trading to transfer your existing pension or to invest through a Liberty SIPP, you need to complain to them before the FSCS can consider your claim against Liberty SIPP Ltd.

Claim Compensation

If your adviser rejects your complaint, you can take your complaint to the Financial Ombudsman Service (FOS).

This means you may be eligible to receive more compensation for any losses, by claiming against your financial advisor, than if you just made a claim against your SIPP provider.

SIPP Sales Tactics

We have found that, in most instances, customers are not even aware of the companies involved in the process of setting up the SIPP, the pension transfer or the underlying investments.

High pressure sales tactics may have even gone as far as to sending people to customers’ homes or workplaces in order to obtain signatures and collect ID’s. Paperwork would have been put in front of them with stickers showing where to sign.

These were high pressure sales tactics, and as clients weren’t provided with copies,  IFA firms’ details may well have been added to the contracts after they had been signed.

Avacade, Cherish Wealth Management, Welcome Investment and others arranged investments into Green Oil Plantations, Ethical Forestry,  Harlequin PropertyInvestUS Exit Strategy,   Los Pandos, SCS Farmland and many more.

Get Your Transactions Reviewed

You may have a case even if the IFA firm has previously rejected your complaint.

Now is the time to get any transaction checked out.

Feel free to talk to one of our experienced case managers. We are here to explain the process and even give you pointers if you are thinking of progressing a claim or complaint yourself to save money.

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