Financial loss on SIPPs with Rowanmoor Personal Pensions Limited
- No Win, No Fee
- No hidden charges
- Over 15 years experience
- Specialist solicitors
- Professional friendly service
Have you suffered financial loss by investing or transferring your pension funds into a Self-Invested Personal Pension provided by Rowanmoor Personal Pensions Limited?
If so, contact us now on 0208 870 7849 for free, no-obligation advice on your potential options for redress.
The Self-Invested Personal Pension (“SIPP”) operator Rowanmoor Personal Pensions Limited (“Rowanmoor”) entered into administration on 31 August 2022. Evelyn Partners LLP has been appointed as the administrators.
On the same day, the Financial Conduct Authority (“FCA”) announced on its website that it is in contact with the administrators and they are looking into the options available for Rowanmoor’s clients, one option could be the transfer of Rowanmoor’s clients to another FCA regulated SIPP operator.
In the meantime, if they have not already done so, Rowanmoor clients could be entitled to bring claims against the SIPP operator at the Financial Services Compensation Scheme (“FSCS”).
We understand that the administration is a result of Rowanmoor being subject to a number of adverse Financial Ombudsman Service (“FOS”) final decisions, decisions that it was unable to pay. These decisions related to Rowanmoor’s lack of due diligence prior to its acceptance of many high-risk and non-standard investments into its SIPP, including ‘The Resort Group’ – a Cape Verde based property investment.
In this scenario, the FSCS may sometimes award compensation, because of a SIPP operator’s lack of due diligence on an unsuitable investment. We have already been successful in many cases where SIPP operators have overseen high risk pension investments, including into The Resort Group.
In some circumstances, such cases can also succeed against SIPP operators like Rowanmoor at the FSCS, even if a financial adviser was also involved in the pension transfer, or gave advice on investments and compensation has already been obtained. Typically, the FSCS will calculate an additional award of compensation equal to the price the investor paid for the investment(s), plus the SIPP fees and charges they paid, less any income they received from the investment(s) and any compensation already received.
If you were advised to establish a Rowanmoor SIPP and invest into a high risk, unregulated investment, such as The Resort Group, there may be grounds for you to successfully pursue a claim at the FSCS and recover compensation. This may be the case if you were advised by a regulated financial adviser, or an unregulated introducer. You may also have received compensation from your financial adviser already, but you could be entitled to a further award from your SIPP operator.
We would like to hear from anyone who this may apply to. We may be able to assist you in bringing a No win, No fee claim to recover your full losses. We are the solicitors who were successful in a ground-breaking case (Adams v Options UK Personal Pensions LLP) that has already resulted in Claimants receiving higher compensation (and may result further in the future) because we successfully argued compensation should also be given for the lost performance of existing pension investments before transfer.
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.
Please note that it is understood that existing complaints currently lodged at the FOS against Rowanmoor will be automatically transferred to the FSCS.
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