Self Invested Personal Pension ( SIPP ) are great, it gives you the opportunity to invest your hard earned money to potentially make a greater income for yourself.
There are very good reasons as to why you should make a claim if you believe you have been mis-sold a SIPP.
Here are some of the reasons below
Risks Involved In The Investment - Were you shown or had potential lucrative investments promoted to you, if so this is great whether its a venture to make extra money or to add to your property portfolio.
What you should be aware of is that the financial advisor would
have told you all the right information, to get you intrigued and make you a potential investor. If they did not advise and explain to you any potential risks involved, then you might be eligible for a mis-sold SIPP claim.
Information Not Provided - Investing using your pension is a good thing to do, but it is also a very important decision to decide to invest using your pension which you have worked so hard to save up. If you have invested with your SIPP you should try and remember if you believe all the information was provided to you. There could have been some information not provided to you and if it was then you could have ended up making a different decision and potentially not investing. If you believe you fall under this category then you might be eligible for a mis-sold SIPP claim too.
Pressure Sales - Another way you could have been mis-sold a SIPP is through pressure sales. Financial advisors are put under a lot of pressure, so they may try and push a product, service onto you without thinking about if it actually is good investment for yourself. This means that you could have been advised and certain important facts could have been left out, these facts may have well lead you to decide not to invest.
High-Risk Investments - If you have a SIPP and have a financial advisor, they could have invested your money into a investment that is high risk and is not always the best place to put your money into. If they did this without notifying you first then you could potentially make claim as you were not aware, it is always best to research thoroughly what you are about invest your SIPP into.
Bad Advice - The job of a financial advisor is to advise you on potentially lucrative and safe services for you to invest in, they may not always be giving you the best of advice. If you feel you were given bad advice, then you should probably get in touch with a solicitor or claims company who can possibly try and help win your hard earned money back.
Always double check facts and figures before you put pen to paper for an investment. Do not feel pressured to agree straightaway, it is always best and safe to get a second opinion.
Amit Patel, Strax Capital Legal Limited
If you have a query, need some help, please don’t hesitate to get in touch at info@straxcapital or call us on 02031517150.
21/01/19