She had a final salary occupational pension plan which was valued at slightly over £73,000. She met with a financial adviser and was told that higher levels of return could be obtained by making a transfer to alternative funds.
Mrs H did not have extensive knowledge of pensions and made it known that she required a low risk option because she would be dependent upon this money for her future retirement.
In complete contrast to her needs and requirements, Mrs H was persuaded to transfer the full amount to a Self Invested Personal Pension (SIPP) which was then invested into a Green Oil fund. This was a high risk, speculative and unregulated investment fund which was wholly inappropriate for Mrs H’s circumstances.
She ended up losing the majority of what had been invested and also lost the additional gains she could have made by keeping her pension within the final salary scheme.
We represented her in a claim for the financial losses she had suffered as a result of transferring her pension to the SIPP. We were successful with the action and Mrs H received £90,000 compensation.
Let Us Help You
If you’ve suffered losses due to poor investment advice or SIPP mismanagement, contact us today for expert advice and support in recovering your money.
Why choose Neglect Assist?
- 17 Years of Specialist Experience: With 17 years in professional negligence law, our specialist team focuses exclusively on cases like yours, ensuring expert support every step of the way.
- 95% Success Rate: We have a proven 95% success rate for cases within time limits—far superior to the ombudsman’s 60% uphold rate for pension and investment complaints*.
- £150+ Million Recovered Since 2007: We’ve successfully recovered millions for clients who suffered financial losses due to negligent advice or mis-sold investments, demonstrating our ability to deliver results.
- 1000’s of Successful Clients: Our extensive experience and results speak for themselves—we’ve helped thousands of clients achieve justice.
- NO WIN NO FEE Guarantee: You pay nothing unless we win, giving you peace of mind and the confidence to seek the compensation you deserve—completely risk-free.
- Recognised Industry Leaders: We are leaders in professional negligence law and are frequently asked by newspapers, TV and radio for commentary on this area of law.