Over the years, many people have made decisions to transfer their pension fund to a SIPP which stands for Self Invested Personal Pension. This tends to come with some benefits; however, many people have seen losses in their investment due to being mis-sold a SIPP. Here, we are going to talk you through some of the reasons why you might be eligible to claim against a mis-sold SIPP. Keep reading to find out more.
Risks Weren’t Explained
When you invest your money into a SIPP, there are many risks that come along with this. This is something which your financial advisor should be telling you about in the initial stages to make sure that you are aware. If these risks were not explained to you, then you might be eligible for a mis-sold SIPP claim.
Pressure Sales
Often in the financial industry, there is a lot of pressure, and financial advisors are pressured into selling certain things to clients. This might have meant that when you were sold your SIPP, you were not given the correct information that was best for you. Your individual needs should be considered, and if this was not done, then you will find that you can make a claim against the company.
Bad Advice
When you employ a financial advisor, you are relying on them to give you advice on your money and what to invest in. Sometimes, they get it wrong, and it can have a massive impact on your savings or your ROI. This is why you should make sure to get in contact with a solicitor who can help you to claim against your mis-sold SIPP and get the compensation you deserve.
Information Not Provided
When you are making a decision as important as this, you should always have all of the relevant information. This is why you need to think back to when you were sold your SIPP and consider the fact that you might not have been given all of the information. Without this information, you might have made the wrong decision and might be able to make a claim.
High-Risk Investments
The final reason why you might be able to make a claim on a mis-sold SIPP is the fact that your financial advisor might have made high-risk investments. In this field, there are many different high-risk investment categories, and if your advisor invested your money into one of these without telling you first, then you might be able to claim. Always try to get an understanding of how your money is going to be invested.
Final Thoughts
If you are someone who has a SIPP but have found that there are issues with your investments, then make sure to get in contact with a solicitor today. A trusted firm can help you to make a claim against your mis-sold SIPP and figure out how best to manage your money in the future. Get in touch today to see what sort of compensation you can get for your future.
