Berkeley Burke SIPP Administration Limited
In recent years, we’ve seen a number of heart-breaking cases in which investors have followed advice and placed all or part of their pension pots into schemes which, for one reason or another, failed to live up to claims made by the advisors. In some instances, that all-important advice was passed on to the investor by individuals or organisations which were unregulated.
Too many people have been left struggling to survive financially in cases like these. After working hard all their lives towards a comfortable and stress-free retirement they’re suddenly facing a future that’s shrouded in uncertainty. It’s not right, it’s not fair and it’s not acceptable. If you’re in such a situation, we’d like to hear from you on 0800 193 1234.
Berkeley Burke SIPP Administration Limited was established in 2008, and is part of the Berkeley Burke group. On a number of occasions, potential investors were persuaded to part with their money by unregulated advisors. Investments into SIPPs managed by Berkeley Burke included some that were made into plots of agricultural land in Cambodia.
The Financial Ombudsman Service and Berkeley Burke have locked horns in the courts about the service that was provided by Berkeley Burke. In a landmark case in 2018, the High Court ruled in the Ombudsman’s favour, ruling that it was part of the SIPP provider’s duty of care to check that overseas investments are all that they appear to be.
While it’s hoped that the ruling will lead to greater care being taken by SIPP providers, it was of course too late for those who had already lost their savings or their pension pots. There are some major SIPP providers, however, who are uncomfortable about the High Court’s decision, claiming that future judgements will be more subjective than they should be.
Seeking justice with help from Beat the Banks
If you have lost money because of investments into a SIPP provided by Berkeley Burke, whether it was via a regulated or unregulated pension advisor, beat the Banks would like to hear from you. We believe that everything that can be done should be done to bring you the justice you deserve, so please get in contact today.
We’ve helped investors who lost money in various schemes in recent times, and we continue to fight for justice. Many SIPP schemes involved making investments into the likes of ethical plantations, sustainable energy and projects involving the mass cultivation of jatropha trees, a plant that at one time was thought to provide the perfect biofuel.
Pension holders, especially those fast approaching their retirement, were encouraged to invest in such schemes. Slick advisors, many of them unregulated, talked in terms of high yields in return for very little risk; it all seemed too good to be true, and that’s exactly what it was. Investors, keen to get the bit more from their money before retiring, trusted the advice they’d been given.
We know now, of course, that that trust was misguided. Some so-called pension advisors had no qualifications in the investment or pensions sectors. After the High Court ruling against Berkeley Burke, many industry experts are saying there could be hundreds more cases in the pipeline, a clear indicator of the fact that many, many investors were wrongly advised.
If you transferred some or all of your pension or savings into a SIPP with Berkeley Burke SIPP Administration Limited, even if it was via a regulated advisor, and ended up losing money, you need to be speaking to our friendly specialists. Beat the Banks will seek the compensation you deserve, so to get the ball rolling call today on 0800 193 1234. We hope to hear from you soon.