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Mr W’s £107,000 SIPP Mis-selling Claim – Storage Pod Investment Loss

Background

Mr W had a final salary pension scheme with a transfer value of around £107,000. This represented all of his retirement savings, and he was dependent upon this money to fund his future retirement. With this in mind, he did not want to place the fund at any risk.

Mis-Sold SIPP Investment

Mr W was advised to transfer the entire sum to a Self-Invested Personal Pension (SIPP) administered by Berkeley Burke. He was inexperienced with pension matters and was therefore completely reliant upon the advice received. He agreed to make the transfer based on the strength of the recommendation received, and the SIPP was then used to invest in storage pods.

Financial Consequences

This was, in fact, completely contrary to Mr W’s requirement for a low-risk pension option, as the investment was unregulated and came with a considerable element of risk. He has since received returns of under £1,000 and has been unable to exit the SIPP because no buyer for the storage pods can be found.

Current Claim and Amount

We are bringing a No Win No Fee claim against Berkeley Burke to recover his financial losses incurred by investing in the SIPP. We are representing him in an ongoing case and are seeking compensation of over £107,000.

No win, no fee

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      Important Information

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