Financial Loss on SIPPs with Brooklands Trustees Ltd
- No Win, No Fee
- No hidden charges
- Over 15 years experience
- Specialist solicitors
- Professional friendly service
Many people have suffered financial losses investing or transferring their pension funds into a Self Invested Personal Pension (SIPP) provided by Brooklands Trustees Ltd.
Senior Associate Tim Hampson works for award-winning Neglect Assist. He has many years experience and is currently acting on behalf of a number of people in claims for financial losses on SIPPs provided by Brooklands Trustees Ltd
Read more about Tim or contact him here
The SIPPs provided by this company have in many cases been used to make investments into high risk or illiquid funds and assets. This has led to people suffering devastating financial losses on their pension funds and in some situations, the full fund value has been lost entirely.
Brooklands Trustees Ltd have now ceased trading, but their business activities were previously regulated by the Financial Conduct Authority (FCA). This means that, in certain circumstances, it may be possible for investors who have suffered losses through dealings with Brooklands Trustees Ltd to seek compensation for their losses by using special claim procedures established by the industry.
Brooklands Trustees Ltd were under a duty to comply with rules of business and codes of conduct set by the FCA. Failure to do this could mean that they are liable for any subsequent financial losses suffered by their clients and customers.
In particular, Brooklands Trustees Ltd were under a duty to exercise due diligence on the investments made through their SIPPs. This is a requirement which is designed to protect customers by ensuring the investments made are suitable, appropriate and do not expose people to higher levels of risk than what they are prepared to take.
Concerns have recently been raised by the regulator of Brooklands Trustees that there may have been a failure by the company to exercise due diligence by allowing people’s pensions to be invested into high risk and unregulated funds and products. For example, many pensioners were persuaded to invest into the LM Managed Performance Fund (a unit trust incorporated in Australia which has subsequently fallen into liquidation), the Kijani Commodity Fund (a Cayman Islands based fund) and structured notes in a variety of offshore companies and investments.
If this lack of due diligence by Brooklands Trustees Ltd can be established, then there may be good grounds for pursuing a claim for compensation to recover losses.
We are currently acting for dozens of clients who have suffered losses on SIPPs provided by Brooklands Trustees. If you are similarly affected then we would like to hear from you as we may be able to assist you in bringing a no win, no fee claim to recover your losses.Please call us on 0208 870 7849 for further advice, or fill in the form and one of our Solicitors will call you back at a convenient time.
We are able to consider cases where the initial dealings have occurred through a third party, such as a broker or financial adviser, even if this third party has subsequently ceased trading or was not authorised or regulated by the FCA.
We are also representing people who live or work outside of the UK and received advice to invest pension money with Brooklands Trustees Ltd when they were overseas.
If you have suffered financial loss as a result of investing or transferring a pension to a SIPP with Brooklands Trustees then please call us on 0208 870 7849 for free and without obligation advice.
We are currently acting on behalf of one client who has lost £250,000, plus lost interest and suitable investment returns (which can also be claimed) on a SIPP provided by Brooklands Trustees. The pension was invested into the LM Managed Performance Fund, which was a unit trust incorporated in Australia. This subsequently fell into liquidation, causing our client to suffer these losses.
Another client invested into overseas securities through a SIPP held with Brooklands Trustees. These securities failed and our client lost £200,000, plus interest and suitable investment returns. We are representing them in an ongoing claim for compensation.
We are also acting for a client who lost capital of £75,000 by investing into the Kijani Commodity Fund, which was based in the Cayman Islands. This fund has been suspended since March 2015.
Have you suffered financial losses on a SIPP operated by a SIPP operator? If so, then you may have grounds for bringing a No Win No Fee claim.
Some SIPP operators have entered into dealings with third party advisers who are not authorised and regulated by the Financial Conduct Authority to give pension or investment advice. This is despite their regulatory body publishing alerts and giving warnings against such actions.View More