The Financial Services Compensation Scheme (FSCS) has revealed that it has received 19 complaints about the self-invested personal pension (SIPP) provider Lifetime SIPP in May alone, Money Observer have reported. This shocking figure brings the total number of complaints made about the provider to 70, according to Money Marketing. This increase reflects the wider SIPP market,

More than 100 clients are involved in a multi-million-pound lawsuit against a financial adviser, and introducer and two providers of self-invested personal pensions (SIPPs) over the mis-selling of a pension investment scheme, Portfolio Adviser reported. A financial mis-selling litigation firm, Anthony Phillip James & Co (APJ), is acting on behalf of the unfortunate investors, who

For many years, financial advisers have been persuading pension savers to invest in high-risk products, many of which are unregulated. Prominent examples in recent years have included storage pods and luxury hotels. However, in many cases these investments fail to realise the expected returns, leaving pension savers lumped with an undesirable and often worthless asset,

Funds which claim to be ‘safe’ alternatives to investing in the stock market are consistently losing money for their investors, as reported by The Times. As a result, many fear a new mis-selling scandal may be unfolding. Targeted absolute return funds which aim to deliver positive annual returns, whatever the market conditions, have been extremely popular

As reported in Professional Adviser, financial mis-selling solicitors Anthony Philip James & Co (APJ) have stated that they have issued five cases against the self-invested personal pensions (SIPP) administrator Guinness Mahon Trust. The claims centre around allegations that Guinness Mahon worked with unregulated introducers in order to facilitate investments into SIPPs containing unsuitable and/or non-standard assets. The

Labour MP Frank Field, chair of the work and pensions committee, has been making enquiries to the Financial Conduct Authority (FCA), in relation to the way in which providers of self-invested personal pensions (Sipps) are regulated. Mr Field has said that the consequences such providers would face for contravening the watchdog’s regulations are unclear, as reported

Documents published by the administrators of Lifetime Sipp have revealed that the failed self-invested personal pensions (Sipp) provider is facing close to £56m in claims, FT Adviser reported. The provider entered administration around the end of March this year. It appointed Kingston Smith & Partners to act as administrators. The Financial Services Compensation Scheme (FSCS)

In the last 5 years, over 13,000 people have been awarded compensation totaling hundreds of millions of pounds in relation to pension schemes gone wrong, The Sunday Times reported. Many investors have been advised to put their pension savings into high risk schemes which have subsequently collapsed. In particular, many were convinced by unscrupulous financial advisers

In the past six years, over a million homeowners have repaid their interest-only mortgage, however, thousands of borrowers are still burying their heads in the sand according to lenders, who warn that thousands continue to ignore the fact that they have no plan to repay their borrowing, This Is Money reported. UK Finance, an organisation

Financial services providers are set to clash with the Financial Conduct Authority (FCA) after the regulator recently ruled that they must pay a quarter of advisers’ Financial Services Compensation Scheme (FSCS) bills, Money Marketing has reported. Following its review of FSCS funding, the FCA has now outlined its new requirement that providers must contribute 25%