Brooklands Trustees SIPPs Claims

Many people have suffered financial losses investing or transferring their pension funds into a Self-Invested Personal Pension (SIPP) provided by Brooklands Trustees Ltd.

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 the 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 in high-risk and unregulated funds and products. For example, many pensioners were persuaded to invest in 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.

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, please get in touch with us for free, non-obligation advice, and one of our Solicitors will call you back at a convenient time.

Current cases

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 in 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 in 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 in the Kijani Commodity Fund, which was based in the Cayman Islands. This fund has been suspended since March 2015.

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
• Carey Pensions UK LLP
• Corporate and Professional Pensions Limited (“C&PP”)
• 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!