CAREY PENSIONS
Why You Can Claim Compensation or Redress Against Options UK Personal Pensions LLP (formerly Carey Pensions UK LLP)
The Financial Services Compensation Scheme (FSCS) has been processing claims against Options UK Personal Pensions LLP, previously known as Carey Pensions UK LLP, related to mis-sold Self-Invested Personal Pensions (SIPPs). If you were advised to transfer your pension into a Carey Pensions SIPP and suffered financial loss, you may be eligible to make a compensation claim.
Background
- Incorporated: Carey Pensions UK LLP was authorised by the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 501747.
- Rebranding and Acquisition: In 2019, Carey Pensions rebranded as Options UK Personal Pensions LLP following its acquisition by STM Group Plc, a cross-border financial services provider.
Issues Leading to Claims
Carey Pensions UK LLP accepted business from unregulated introducers, such as Commercial Land & Property Brokers (CL&P), which advised clients to transfer their pensions into Carey SIPPs and invest in high-risk, unregulated assets like storage pods. Many of these investments underperformed or became illiquid, leading to significant client losses.
The firm’s failure to conduct adequate due diligence on these investments and introducers, despite operating on an “execution-only” basis, has been deemed a breach of regulatory obligations, resulting in upheld complaints and compensation awards.
Recent Developments
Who Was Involved?
The following individuals were associated with Carey Pensions UK LLP in regulated capacities:
- Christine Hallett – CEO
- Susan McPherson – Compliance Officer
- Patrick Fox – Sales Director
Client Impact
Clients who transferred pensions into Carey SIPPs and invested in non-standard assets may have experienced substantial financial losses. The Financial Ombudsman Service (FOS) and subsequent court rulings have established that Carey Pensions failed in its duty to conduct necessary due diligence, making them liable for client losses.
Compensation and Claims
If you were advised to transfer your pension into a Carey Pensions (now Options UK Personal Pensions LLP) SIPP and suffered financial losses due to unsuitable investments, you may be eligible to claim compensation through the FSCS.
Common Issues:
- Mis-sold Pensions: Unsuitable advice pushing high-risk investments not aligned with your risk profile.
- Negligent Due Diligence: Failure to properly vet unregulated introducers and risky investments within their SIPP.
- Regulatory Failures: Breaches of FCA regulations that exposed clients to unnecessary financial risk.
Take Action Today:
- Free Consultation: Discuss your situation with our legal experts to see if you have a claim.
- Case Assessment: We’ll review your SIPP details and investment history to determine eligibility.
- Claim Process: If eligible, we’ll guide you through the entire process on a no-win, no-fee basis.
Get Started Now!
Call us at 0161 840 1560 or request a callback to begin your claim for compensation. Don’t suffer in silence – you may be able to recover your lost pension.
