Formed way back in September 2007, Liberty Sipp Ltd has grown rapidly following the introduction of it’s Liberty Option Sipp back in 2013. No setup fees and minimal annual management fees have not surprisingly, seen a surge in recommendations from pension advisors.
Unfortunately, behind this success story there potentially lies a few skeletons in the cupboard that have seen Liberty Sipp recently sold to the Embark Group. Crucially, the new owners will not be responsible for the historic liabilities of their new acquisition over the alleged mis-selling of SIpps between 2011 and 2013, when the regulator took the step of effectively banning IFA’s from selling unregulated collective investment schemes (UCIS).
Liberty it seems, through third-party unregulated introducers such as Avacade allowed a substantial number of pension holders invest in unregulated pension investments such as Ethical Forestry, Gas Verdant, Sustainable Agroenergy, Invest US and Gravity Child Care Limited without the appropriate level of due diligence. It’s likely that hundreds of pension holders may have claims.
If you’ve been recommended by your financial adviser or mortgage broker, irrespective as to whether they were properly authorised to give pension advice or not, to transfer your pension to Liberty Sipp and have lost money, Beat the Banks are here to help. To find out more, simply complete our enquiry form or call our expert team on 01382 200474.