It is reported today (09/10/2018) by FT Adviser that the majority of Carey Pensions bought by STM Group.
"In a market update today (9 October), STM Group announced it would pay £400,000 to buy Carey Administration Holdings Limited – which owns 70 per cent of Carey Pensions and 80 per cent of auto-enrolment provider Carey Corporate Pensions UK." (FT Adviser)
Some of our clients were contacted by Carey Pensions last February (2018), to be told that their SIPPs were being separated from the rest of the Carey business and placed into a "distressed" book of business which would include ‘members with illiquid non-standard assets'
Carey Pensions was the subject of a legal claim in an important case in March 2018. Judgement is awaited but this case is likely to be significant for the whole SIPP industry as it will shed legal light on the issue of "due diligence" by SIPP operators.
In respect of our clients, the "distressed" SIPPs to date have been Storage Pod style investments. Which are now deemed by compensation bodies to be impossible to place a value upon.
Whether you were advised to place a SIPP investment into unregulated assets with Carey Pensions by a UK regulated financial adviser, or if you were simply directed to Carey Pensions SIPPs by an unregulated introducer firm, please get in touch to see if we can help you to make a claim for your losses.
Start your Carey Pensions SIPP Claims. Please complete the brief form below and send it to us outlining your Carey Pensions Complaint, or call free on 0800 254 5066 to speak to a SIPP claims expert.