Guinness Mahon Trust Corporation was a self-invested personal pension provider who mis-sold SIPP pension products to clients across the UK. If you transferred your retirement savings from a safe scheme to an unregulated Guinness Mahon SIPP, you might have been mis-sold SIPP funds. Keep reading to learn more.
Did you invest with Guinness Mahon Trust Corporation and lose some or all of your hard-earned retirement savings? You could recoup some of your lost money.
The Financial Services Compensation Scheme (FSCS) has made mis-sold SIPP compensation available for people like you. Do you qualify?
The FSCS has received more than 1,000 claims against their SIPP subsidiary, the Guinness Mahon Trust Corporation. For some people, SIPPs can be a smart choice, but Guinness Mahon Trust Corporation included some very high-risk investments into their products. These SIPPs were only appropriate for High Net Worth Individuals, but they were sold to average people like you.
In 2016, they became embroiled in the mis-sold SIPP scandal owing to their dealings with BankHouse, Financial Page, and Henderson Carter. By 2018, they were facing their own charges for bringing in unregulated investments in order to generate more business. By February 2020, the Guinness Mahon Trust Corporation officially went into administration. In May 2020, it was estimated that they could face up to £8.5 million in liabilities.
The FSCS is now offering clients mis-sold SIPP compensation for people who were misled into this investment.
Are you entitled to mis-sold SIPP compensation from Guinness Mahon Trust Corporation?
Did you ever invest withThe Guinness Mahon Trust Corporation Limited? This company is now in administration, and cannot pay you any returns on investment. However, you may be eligible for mis-sold SIPP compensation made available by the Financial Services Compensation Scheme (FSCS).
If you were ever pressured or misled into moving your retirement savings from a stable scheme into a risky SIPP with Guinness Mahon Trust Corporation, you might have been mis-sold SIPP products. Our claims experts can assess your case and help you determine your eligibility. Apply online today for an information pack to learn more.
FSCS Guinness Mahon Trust Corporation Claim
Guinness Mahon Trust Corporation 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 Guinness Mahon Trust Corporation. 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.Apply Now
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Pre complaint investigation and analysis. No paperwork? Don't Worry! We could still help.
Once we've assessed claim prospects, we make a pension complaint to the Ombudsman or FSCS, where appropriate
Pension complaint response received. We'll carefully analyse the response and advise you on how to proceed.
If appropriate resolution cannot be reached with a live firm, and we disagree with their stance, we will refer the claim to Ombudsman on your instruction.
As of the 1st March 2022 we have implemented a new fee structure which we have explained below. If you signed your contract with us prior to the 1st March 2022, please refer to your signed claims pack for our previous fee terms.
Our fees are owed upon a successful claim and will depend on the Gross Compensation you receive. “Gross Compensation” means the amount awarded to you whether this is paid directly to you or paid into an investment or pension, and prior to any deduction of any income tax due to HMRC on your award. Please refer to the definition of “Gross Compensation” and Section 5 of our Terms of Engagement for further information including a table showing how our fees work in different scenarios.
If successful, your fee will be calculated based on which band your redress falls into and will be charged by whichever is the lowest of:
The below table outlines the redress bands, the maximum percentage rate of charge and the maximum total charge is for each band.
|Band||Redress||% Charge (with VAT)||Maximum charge (with VAT) (£)||Maximum charge (without VAT) |(£)|
|1||1 – 1499||36%||504||420|
|2||1,500 – 9,999||33.6%||3000||2500|
|3||10,000 – 24,999||30%||6000||5000|
|4||25,000 – 49,999||24%||9000||7500|
Examples of how this would work in practice:
|Band||Lower example||Higher example|
|1||You receive £100 in redress; our fee would be £36.||You receive £1499 in redress; our fee would be £504.|
|2||You receive £1,600 in redress; our fee would be £537.60.||You receive £9,999 in redress; our fee would be £3,000.|
|3||You receive £12,000 in redress; our fee would be £3,600.||You receive £24,999 in redress; our fee would be £6,000.|
|4||You receive £30,350 in redress; our fee would be £7,284.||You receive £49,999 in redress; our fee would be £9,000.|
|5||You receive £55,000 in redress; our fee would be £9,900.||You receive £100,000 in redress; our fee would be £12,000.|
Please note, the above fee examples are for illustration purposes only. They are not an estimate of the likely outcome or fee you will need to pay. Each claim depends on its own merits.
It is possible that our fee may become payable before you have access to your pension or investment which may result in you having to pay our fee from your own funds
You can cancel for free at any time within 14-days without giving any reason and without incurring any liability. You can communicate your cancellation by telephone, post, email or online.
You can cancel this agreement at any time after the 14-day cancellation period. However, if a complaint submitted by us is successful, the Success Fee will apply in the usual way.
You can cancel by post: Allegiant Finance Services Limited, Freepost RTYU–XUTZ–YKJC, 400 Chadwick House, Warrington Road, Birchwood Park, Warrington, WA3 6AE; (b) by email: [email protected]; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/compliance/cancellation.
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