Pensions and SIPPs are complex products and as investors look to their retirement, many seek the advice of a financial adviser.
The financial adviser has a duty of care to you, the investor. If they give negligent pension advice and as a result you end up losing money, you may be able to claim compensation for a mis-sold pension.
This could be for a number of pension products including a SIPP or annuity.
If advice from a financial adviser has resulted in mis-sold investment call Jordans Solicitors on 01924 457171
Examples of negligent pension or SIPP advice
You may have been mis-sold your pension if:
- You were advised to invest your pension fund into a higher risk investment fund that was not in line with your circumstances or needs at that time.
- You were not advised of the risk of investing into a higher risk pension.
- You were advised to invest into a SIPP that contained too much risk and which has not performed according to your adviser’s recommendation.
- The adviser is unnecessarily recommending that you keep switching your pension on the basis that the adviser is paid commission each time you switch.
- You were advised to invest into a pension that is now worth less than your original investment.
- The advisor failed to consider the benefit of transferring out of an existing scheme that may have resulted in a higher reward than the original scheme.
These are just a few examples of how your pension or SIPP may have been mis-sold and the advice negligent.
If you’re unsure if you did receive negligent advice, get in touch with us on 01924 457171 for a free, no obligation consultation.