Russell Adams v Options UK Personal Pensions LLP

Many people have suffered financial losses investing or transferring their pension funds into a Self-Invested Personal Pension (SIPP) provided by Carey Pensions UK LLP.

The SIPP has acted as a wrapper in many instances for the investment of funds into high-risk or illiquid investments, which are wholly unsuitable for pension fund investments. 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.

We are aware of particular problems and instances of high levels of financial loss on the following SIPPs provided by Carey Pensions UK LLP;

• Store First (Storage Pod investments)
• GAS Verdant (Australian Agricultural land investments)
• Templeton Securities (AIM stock investments)
• ISP Securities (Carbon credit investments)
• Sovereign (Green and Environmental investments)

We are acting for over 40 clients who have suffered losses on these funds provided by Carey Pensions UK LLP. 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.

Carey Pensions UK LLP are a company whose business activities are authorised and regulated by the Financial Conduct Authority (FCA), which are the relevant regulatory body for the financial services industry.

This means they are subject to strict professional standards and have to abide by rules and regulations prescribed by the FCA. Breaches of these provisions could mean that they are liable for any subsequent financial losses suffered by their clients and customers.

We believe that Carey Pensions UK LLP have breached several important, fundamental regulatory rules prescribed by the FCA regarding the dealings they have had with customers who invest into SIPPs which they provide.

The Financial Ombudsman Service have previously stated that SIPP providers such as Carey Pensions UK LLP have a duty to warn customers not to proceed with unsuitable SIPP investments. In our experience, there are a considerable number of cases where this has not happened.

Dealings with unauthorised third parties

In our cases, advice to invest in, or transfer to, a SIPP provided by Carey Pensions UK LLP has commonly been given by third parties, who in many cases are unauthorised and who are not regulated by the FCA.

However, these third parties act as an introducer to Carey Pensions UK LLP. In such circumstances, it may be possible to establish that Carey Pensions UK LLP are liable for losses caused by reliance upon such advice.

This position is enforced by statute. Section 27 of the Financial Services & Markets Act 2000 allows a customer to recover losses which have been caused by making investments through authorised firms where this follows advice or recommendations made by unauthorised firms.

We are proceeding with a significant number of cases where our clients have suffered financial losses after being introduced to Carey Pensions UK LLP by an unauthorised and unregulated party and would welcome contact from anyone who has been similarly affected.

If you have suffered financial loss as a result of investing or transferring a pension to a SIPP with Carey Pensions UK LLP, contact us for free, non-obligation advice.

Other SIPP Providers That Have Faced Claims for Mis-sold Investments

Several SIPP providers have been held accountable for failing to protect investors from high-risk and unsuitable pension investments. Below are some SIPP providers that have faced legal action and complaints due to regulatory failings:

• Berkeley Burke
• Brooklands Trustees
• Carey Pensions UK LLP
• Gaudi Regulated Services
• GPC SIPP
• Guinness Mahon Trust Corporation Limited
• Liberty SIPP
• Lifetime SIPP
• Pointon York Limited (“Pointon York”)
• Rowanmoor Personal Pensions Limited (“Rowanmoor”)
• Stadia Trustees
• Store First Ltd
• Strand Capital

Have you been mis-sold a pension by an SIPP provider? We can help. Contact us today!