• The Claims Bureau

FSCS Accepting Compensation Claims Against Liberty SIPP

Updated: Jun 4, 2020


The Financial Conduct Authority (FCA) announced on April 28th, that Andrew Poxon and Alex Cadwallader of Leonard Curtis have been appointed as joint administrators due to the SIPPS pension provider Liberty Sipp falling into administration.


As a result, from Liberty dealing with many decisions made against it from the Financial Ombudsmen Service, the firm was advised that it was insolvent based on the number of potential claims relating to high-risk non-standard investments. According to the FCA, Liberty would enter administration, providing protection for creditors plus former customers.


It was reported in August 2018 that the FOS had received just over 500 complaints from Liberty clients who had allegedly lost money after making high-risk investments.


In October 2018, Liberty Sipp Limited business and customer assets were sold to EBS Pensions Limited, part of the Embark Group, which then rebranded the Liberty SIPP as the Option SIPP.


However, the legal entity Liberty SIPP was not part of the sale and retained its liabilities and consequently had to pay out against any complaints using the assets it held.


The Financial Services Compensation Scheme and are now accepting claims against Liberty SIPP and hundreds are expected where customers could receive up to £85,000 if their claims are deemed eligible.


If you have been affected by SIPP Pension services offered by Liberty SIPP Ltd and would like to discuss how we may be able to help give us a call on 01903 868251.


Information in this article was sourced from

https://www.ftadviser.com/pensions/2020/04/28/claims-head-to-fscs-as-liberty-sipp-enters-administration/

79 views0 comments
Disclaimer

 

The Claims Bureau Limited are a claims management company. You do not have to use our service as you are entitled to make a claim yourself for free, either to the person against whom you wish to complain or to the relevant statutory ombudsman (The Financial Ombudsman Service or The Pension Ombudsman Service), or the statutory compensation scheme (The Financial Services Compensation Scheme) if it falls within their remit, providing where applicable you have approached the company in question first.

 

The Claims Bureau, a limited company registered in England & Wales (registered number 08075880), registered at the above address). The Claims Bureau Limited is authorised and regulated by the Financial Conduct Authority (see the FCA register at www.fca.org.uk/register/ Reference 830392). The Claims Bureau is registered with the ICO (Z3299040).



8.30am - 5pm Monday to Thursday & 8.30am - 2.00pm Friday 

+44 (0)1903 868 251   |   info@theclaimsbureau.co.uk

The Claims Bureau, Suite 3 & 4, Anchor Springs, Littlehampton, West Sussex BN17 6BP

  • White Facebook Icon
  • White LinkedIn Icon
  • White Twitter Icon