Brooklands Trustees Limited was a group of independent financial advisors who mis-sold SIPP pension funds to British clients. The company was in operation from 2006 to 2018, but it was dissolved on 19 October 2018. Brooklands is no longer authorized by the Financial Conduct Authority (FCA), and can not repay any returns on investment. Were you targeted by Brooklands Trustees?
What Happened with Brooklands Trustees Limited?
Brooklands Trustees heavily promoted their SIPP, which was worth £650 million and had attracted 5,500 members by July 2016. Their SIPP book was sold for £425,000 to Heritage Pensions in a pre-pack arrangement.
Brooklands only accepted business from those with an introducer agreement with their firm, but they didn’t vet these partnerships particularly well. They entered into an introducer agreement with FCP Insurance Consultants in 2009, even though FCP had no UK Regulator authorization to dispense pension advice! In 2012, Brooklands realized that FCP was not authorized, and they made a switch to Universal Wealth Management (UWM).
This was too little too late, and their fund collapsed in 2013. Brooklands soon entered administration in August 2016, and since that time 20 claims have been brought against them by the Financial Ombudsman Service (FOS), totaling more than £1.6 million.
Have you ever dealt with Brooklands Trustees Limited or another advisor? Did they convince you to transfer your retirement savings from a safe and stable pension scheme into an unregulated SIPP? If so, you might have been mis-sold SIPP pension products. The Financial Conduct Authority has barred Brooklands from trading, and they will no longer offer you any returns on your investments.
Thankfully, the Financial Services Compensation Scheme (FSCS) may be able to help. They offer mis-sold SIPP compensation to people like you. Do you qualify?
Our claims experts can help you learn more about your case, and determine if you were mis-sold SIPP products by Brooklands Trustees. Apply online today for an information pack to learn more.
FSCS Brooklands Trustees Limited Claim
Brooklands Trustees Limited has been declared in default by the Financial Services Compensation Scheme. This means that the UK’s compensation scheme for failed financial services firms will pay compensation for valid mis-selling claims. Allegiant can assist you with claims to the FSCS about Brooklands Trustees Limited. Fill in our online application form to get started.
You do not need to use a claims management firm to make your claim and if your complaint is not successful you can refer it to the Financial Ombudsman Service or in the case of a failed firm, the Financial Services Compensation Scheme, for free.