Stirling Mortimer Funds were closed-ended registered funds domiciled in Guernsey. The company, currently active, mis-sold SIPP pension funds to their British clients. They continue to sell a number of different funds to clients, claiming to offer “something other than traditional financial products.” However, these specific funds are now defunct.
Despite their involvement in numerous mis-sold SIPP claims, Stirling Mortimer is still active and trading.
What did Stirling Mortimer Do Wrong?
Back when the property market was buzzing just before the financial crisis, Stirling Mortimer invested their clients’ money into developments in the Cape Verde Islands, Spain, and Morocco. Despite the fact the funds were marketed as ‘low-risk’ opportunities, they were, in fact, high-risk unregulated investments and not appropriate for the average person. These funds have plummeted in value, and clients have lost large sums of money. Did this happen to you?
In 2014, the Stirling Mortimer property fund was delisted from the Channel Islands Stock Exchange (CISX). However, this move couldn’t save the £91m fund.
While they sold their funds as safe and low-risk, Stirling’s investments were actually classified as unregulated Collective Investment Schemes (UCIS). The only people who should invest in UCIS are High Net Worth Individuals who earn more than £100K per year and/or hold more than £250K in assets.
Are you entitled to mis-sold SIPP compensation from Stirling Mortimer?
If you ever dealt with Stirling Mortimer’s property fund, you might be entitled to mis-sold SIPP compensation. This fund no longer exists; even though Stirling Mortimer is still trading, they cannot pay you any returns on your investment. Thankfully, the Financial Services Compensation Scheme (FSCS) has made mis-sold SIPP compensation available for people who invested with them.
If you were mis-sold SIPP products, you can recoup some of your lost money. Get in touch with our claims experts – they’ll assess your case and provide you with clear advice. Find out if you’re eligible for mis-sold SIPP compensation. Apply online today for an information pack to learn more.
FSCS Stirling Mortimer Claim
Stirling Mortimer 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 Stirling Mortimer. 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.