Overseas property and real estate investments are understandably attractive prospects for investors looking to boost their retirement pots. But many of these high-risk schemes aren’t actually regulated by the Financial Conduct Authority (FCA), leaving investors open to mis-selling and potentially big losses. In these cases it is possible for customers to seek compensation and recoup some of their losses.
Did you invest in a SIPP?
A self-invested personal pension (SIPP) is a scheme that gives you a higher level of control over your own pension. This means you get access to more choices on where you can invest your retirement fund, allowing you to manage your own investments and savings, rather than relying on a pension company or fund manager. The appeal of such a scheme is clear, but the risks associated with it are sometimes not made obvious to investors.
Mis-sold SIPPs have become the subject of an increasing number of complaints made to the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).
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Do you think you’ve been mis-sold?
If you have invested your pension pot in a SIPP scheme and you’re now suffering as a result, or even if you haven’t yet lost money but suspect something isn’t quite right, check your situation against the following criteria to see if you’ve been mis-sold:
- Pressure Selling
Were you pressured into investing your pension into something you didn’t want or need?
- Unsuitable Scheme
Were you advised to transfer your existing private pension fund to a new, higher return scheme even though it wasn’t suitable for your needs?
- Unexplained Fees
Were there any surprise fees or additional costs attached to the investment that you weren’t made aware of from the start?
- Unexplained Risks
Were there certain risks attached to your SIPP that you were not informed of when you agreed to invest?
- Lost Investment
Have you made significant losses as a result of any of the above issues?
If any or several of the above points sound familiar to you then fill out our simple contact form or give our experienced team of solicitors a call and let us help you.