GPC SIPP / Guardian Pension Trustees SIPP is the latest SIPP administration firm to be declared in default by the Financial services Compensation Scheme (FSCS).
We have excellent experience with these types of claims, and can talk you through what will happen next. Get in touch re your Guardian Trustees Pension.
It would appear, both from information via the FSCS, and from their own website, that GPC SIPP allowed investments into "unregulated assets."
These can often be high risk, single asset, investments - sometimes offshore and can end up being impossible to get your money back from - ie. illiquid.
Today's (12/06/2019) Citywire story covers a aspect of this:
" In 2016, New Model Adviser® reported GPC Sipp had imposed an annual fee of £400 for clients which hold so-called non-standard assets. At the time the Sipp firm said many of the non-standard investments it held were experiencing 'challenges'. "
This firm was declared in default by the FSCS in September 2016.
A range of unregulated assets were mentioned on the GPC website - including:
Freedom Bay, Global Plantations Ltd, Los Pandos, Ethical Forestry, Green Oil, Harlequin, Harmony Bay, Global Forestry, Sustainable Agro Energy and others
Remember, you can make your own claim directly to the FSCS. , However if you would like to make use of our financial services claims expertise, then please get in touch urgently: either use the email form below to contact a Partner directly - or call free on 0800 254 5066.
One of our Partners, Gary Naylor or Ken Hanning will be in touch to explain what we will do, what information we will ask for, and we can start the process quickly!
We offer a no win no fee service, and we will make our charge of 20% - inclusive of VAT - only if we win an offer of compensation for you.