Lots of people put their pension funds into various investments via Montpelier Pension Administration Services (MPAS) and, unfortunately, lost money. If you are one of these you may be able to claim for compensation.

In 2010 a SIPP thematic review was performed including a supervisory visit to Montpelier, it was found that there were many regulatory failings. As a result, Kevin Wales (company director) was stopped from being allowed to perform any sort of significant functions that had influence. Mr Wales was growing the business by allowing investments into unregulated, complex, and esoteric schemes such as unlisted hares, hotel rooms, overseas property, and settlement funds. Some 40% of all investments in the SIPP made between the years of 2009 – 2011 were none standard with many of them in hotel rooms.

Unfortunately the company didn’t monitor or vet any of the third parties it was involved with, meaning some of the fund managers and IFA’s that worked with the MPAS didn’t possess the correct level of knowledge about the assets that it was administering for clients. This was often to the detriment of their clients, with many of them transferring funds out of their pension without being given sound advice about what can happen when things went wrong.

After the collapse of some of the investments clients were left with nothing, they had lost entire pension fund and were stuck in a pension plan that required them to pay large fees and be subject to expensive charges.

Recently Curtis Banks purchased both the clients and assets of MPAS but cannot be held responsible for the actions of the previous company. Anyone that has a small self-administered scheme or a self-invested personal pension with Curtis Banks that was originally founded by MPAS may be entitled to claim for financial compensation. In order to establish if this is the case, you need to have all of your transactions with the company professionally reviewed.

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.

Frequently Asked Questions

Pension mis-selling occurs when a financial adviser provides unsuitable advice to transfer or invest your pension into schemes that are inappropriate for your financial situation or risk appetite. This could include high-risk investments or inappropriate pension transfers, such as moving a defined benefit pension into a riskier scheme.

You may have been mis-sold a pension if:
– You were advised to move your pension into high-risk investments without understanding the risks.
– You were not informed of exit fees or charges when transferring your pension.
– You were advised to transfer out of a defined benefit pension, which led to financial losses.
If these situations sound familiar, you could be entitled to make a claim for compensation.

Compensation depends on the extent of your losses. Typically, it includes financial losses due to bad advice or mismanagement, including lost returns, exit fees, and fees paid for services that were not delivered. We assess your case and help you understand the potential amount of compensation.

There are time-barring restrictions for pension mis-selling claims, usually six years from when the advice was given, or three years from when you realised the pension was mis-sold. It’s important to act quickly to ensure your claim is within the legal timeframe.

The process involves:
– A free consultation to assess your case.
– Gathering of all necessary evidence, such as contracts and statements.
– Submission of your claim to the Financial Services Compensation Scheme (FSCS) or other relevant bodies.
We handle the entire process for you and keep you informed throughout.

Our services are provided on a no-win-no-fee basis, meaning you will only pay if we successfully recover compensation on your behalf. There are no upfront costs or hidden fees.

Yes. If Barton Hatcher Ingram Financial Management Limited is no longer trading, you can still make a claim through the Financial Services Compensation Scheme (FSCS), which handles claims for firms that have gone into liquidation.

The time it takes to process a pension mis-selling claim can vary based on the complexity of the case and the involvement of other parties. On average, claims can take several months to a year to resolve, but we will work diligently to handle your case as efficiently as possible.

News & Updates about Montpelier SIPP

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