Is your SIPP Provider at fault for your pension loss?

If you have invested your pension via Stadia Trustees also known as Noisnep Sipp, Essential Sipp, Essex Community Foundation Sipp, Hero Sipp, Investor Club Sipp, Ipswich Sipp, Liberator Sipp and Munro Sipp - and have lost money - you may now be entitled to compensation!

Essentials SIPP

Stadia was one of eight small SIPP firms to be inspected by the financial regulator in 2011 as part of the regulator’s efforts to tackle the risks posed by small firms and unregulated collective investment schemes (UCIS).

After working closely with the regulator, Mattioli Woods was appointed to assist Stadia Trustees and, as part of the move, secured members’ benefits by transferring their assets to alternative pension arrangements. 

The company estimated as many as 80 per cent of the Stadia clients had some element of exposure to non-standard assets, with more than half having all of their pension funds invested in these.

Stadia may have not carried out sufficient levels of due diligence before accepting pension transfers which were then invested into high-risk, non-standard investments.

The lack of compliance may have been to the detriment of the clients, as they transferred their pensions without receiving advice from a regulated financial adviser – leaving them without a way of receiving redress if things go wrong.

When their investments collapsed, clients lost their entire pension provisions and were left stuck in a plan, paying what many consider excessive fees & charges in relation to the failed investments.

If you have a SIPP/ SSAS or Family Pension Trust with Mattioli Woods, which was originally set up as a Noisnep Sipp, Essential Sipp, Essex Community Foundation Sipp, Hero Sipp, Investor Club Sipp, Ipswich Sipp, Liberator Sipp, Munro Sipp you may now be in the position to claim compensation. (Please note Mattioli Woods are not responsible for the failings of the original Trustees)

If you had dealings with any of those companies you should review all the transactions which were made and get in touch with us if you have any concerns about the advice you received or the way your investments are performing.

Don’t run out of time – as time limitations do apply.

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