LIBERTY SIPP
Liberty SIPP Limited was a UK-based Self-Invested Personal Pension (SIPP) provider authorised by the Financial Conduct Authority (FCA) with Firm Reference Number (FRN) 476409.
In October 2018, Liberty SIPP sold its client book to EBS Pensions Limited, a subsidiary of the Embark Group. This transaction transferred the administration of client assets to EBS Pensions, while Liberty SIPP retained liabilities associated with past business activities.
Liberty SIPP entered administration on 27 April 2020 due to financial difficulties arising from numerous claims related to high-risk, non-standard investments. The Financial Services Compensation Scheme (FSCS) declared the firm in default on 25 January 2021 and has been processing claims from affected clients.
Transferring Pensions
Liberty SIPP first experienced problems when it was caught allowing clients to invest in unregulated and high risk investments like Gravity Child Care Ltd, Invest US, Sustainable Agro Energy, Gas Verdant, Global Plantation, and Ethical Forestry.
Clients were introduced through unregulated, third party introducers such as PFR Services, SJ Stone, Anton Barr, and Avacade. These companies were not authorised to give investment advice or information on transferring their pension.
Introducers That Weren’t Regulated
It is evident that Liberty SIPP didn’t correctly manage their clients as they accepted business from introducers that weren’t regulated, this left clients open to the possibility of significant losses.
If you have dealt company and made investments based on their advice you should immediately review each and every one of your transactions . If you find anything of concern regarding the performance or the advice you were given please get in contact with us.
Next Steps
Call us now for a phone or video consultation with one of our legal experts on 0800 041 8358 to find out if you are entitled to compensation, you may even be entitled to additional compensation if you have successfully claimed in the past.
