GUARDIAN PENSION CONSULTANTS
The SIPP Provider by the name of Guardian Pension Consultants (GPC) has gone into administration. The company was responsible for administering pensions for Guardian Pension Trustees and had more than £130m of client assets.
Guardian Pension Consultants Ltd (GPC), entered administration on 11 June 2019 due to financial difficulties stemming from exposure to high-risk, non-standard investments. These investments included Harlequin Property, Ethical Forestry, InvestUS, Harmony Bay, SCS Farmland, and The Resort Group.
On 12 August 2019, the joint administrators, Adam Stephens and Henry Shinners of Smith & Williamson LLP, facilitated the sale of GPC’s business and certain assets to Hartley Pensions Limited, an FCA-authorised firm. This transfer aimed to ensure continuity of service for clients holding Self-Invested Personal Pensions (SIPPs) and Small Self-Administered Schemes (SSASs).
The GPC SIPP was exposed to a series of failed investments, like SCS Farmland, Harmony Bay, InvestUS, Ethical Forestry, and Harlequin, in addition to a number of other unregulated and risky investments like The Resort Group. The collapse of the company came after it was subject to a number of potential claims challenges regarding the lack of due diligence over the investments that they accepted.
Following GPC’s administration, the Financial Services Compensation Scheme (FSCS) has been processing claims from affected clients. As of July 2023, the FSCS had processed 1,697 claims against GPC SIPP Ltd, resulting in compensations totaling approximately £67.1 million.
Get To Know Your Options
For clients who have not yet filed a claim but believe they were mis-sold investments through GPC’s SIPP, it’s crucial to act without delay, as there may be time limits affecting the eligibility to claim. For anyone who is unsure about what is the best way to proceed and have been told by GPC to wait and hold tight, may find that they eventually run out of time to be able to make a claim. However, by calling us today, you will be able to receive clarification on whether or not you really are entitled to claim for compensation.
Additionally, you might also be able to claim for compensation even if you have already received financial redress from the Financial Services Compensation Scheme against GPC and where the amount you lost was in excess of the £50,000 that is awarded.
