Liberty Sipp mis-sold Sipp pension funds to thousands of British clients. They were a private limited company incorporated on 10 September 2007, but they are currently in administration and are no longer authorized to do business by the Financial Conduct Authority (FCA). Liberty is registered at Riverside House, Irwell Street in Manchester, M3 5EN.
If you didn’t understand the nature of Liberty Sipps and your advisor didn’t correctly assess your financial situation, you could be eligible for mis-sold Sipp compensation. The Financial Services Compensation Scheme (FSCS) has made funds available for Liberty’s victims.
Back in 2007, it seemed like Liberty Sipp was on top of the world. They were starting to grow steadily and had an increasing stable of clients. Their success increased even more after a branding campaign – Liberty sold the company to EBS Pensions Limited, which began to offer just one product: the Liberty Option Sipp. It worked – in 2017, their revenues topped £2.1 million, more than 40% over their previous year.
The Liberty Option Sipp demanded a flat annual investment of £175 plus VAT, and offered clients the chance to amend their investment portfolios whenever they wished. Thought of as a great deal, thousands of people invested in this option. However, the house of cards was soon to fall.
By 2020, the FCA began to receive a high number of complaints about Liberty’s high-risk and non-standard SIPP pension schemes. Liberty Sipp entered into administration when the Financial Ombudsman Service ruled against them. Now, more than 800 FSCS claims have been levied against them. Do you qualify to make a claim?
Liberty is no longer trading, and they will not repay any of the returns you are owed. If you ever invested with Liberty Sipp, you might be eligible for the FSCS’s mis-sold Sipp compensation. Thankfully, you could recoup some of what you lost.
If you were given flawed investment advice from Liberty SIPP you may be eligible for mis-sold Sipp compensation. Our pensions team can help you with the entire process, from start to finish. Apply online today for an information pack to learn more.
FSCS Liberty SIPP claims
Liberty SIPP 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 Liberty SIPP. Fill in our online application form to get started.
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The Financial Conduct Authority (FCA) has identified ‘serious and ongoing failings’ by both Individual Financial Advisers (IFAs) and Self-Invested Personal Pension Providers. Typically, mis-selling is related to the “wrong” type of investor being given poor or misleading advice as to what investments were relatively safe and right for them. In this summary, we look at What a SIPP is, and how they have been mis-sold, together with the FCA’s review into sector malpractice.Click to Read
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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.
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How our fees work in practice:
• Compensation is £1,000, the fee is £150 plus VAT £30. This means the amount payable to us is £180 leaving you with the benefit of £820.
• Compensation is £3,000, the fee is £450 plus VAT £90. This means the amount payable to us is £540 leaving you with the benefit of £2,460.
• Compensation is £10,000, the fee is £1,500 plus VAT £300. This means that the amount payable to us is £1,800 leaving you with the benefit of £8,200.
NB. 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.
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