Have you invested in a Momentum SIPP and lost money as a result of bad financial advice? Then you should know that people in your exact circumstances are making compensation claims for pension mis-selling.
Momentum SIPP failed to uphold its legal duty by not properly informing clients of the consequences of changing their defined benefit pensions (sometimes known as workplace pensions) into its private scheme. By making the switch to a self-invested personal pension (SIPP), those affected lost the vital protections that their previous pensions had afforded them. As a result, many suffered financial losses and emotional distress.
Many similar cases of mis-selling have resulted in compensation and justice for clients who were mis-sold by their pension providers. If you are affected, contact Keller Postman UK for the opportunity to get the compensation you deserve.
You may have been mis-sold, and therefore entitled to claim for transferring to a Momentum SIPP, if any of the following apply:
A SIPP is a private pension scheme that allows clients to select what investments should be made using their pension funds. A standard Final Salary pension (also known as a Defined Benefit pension) delivers a guaranteed and inflation-proof pension at your retirement age. You’re usually protected by the Pension Protection Fund (PFF) if your employer goes out of business and can’t pay your promised pension. But the protections provided by the PFF don’t exist for a SIPP.
The range of investments made via SIPP providers like Momentum can be high-risk, and high-reward, but they are only recommended for experienced investors familiar with the stock market.
One common thread in mis-sold SIPP claims is that those who joined the scheme were first introduced to it by independent investment advisors. These advisors would sell clients on the pros of having these private pension schemes. Many of those who made the switch would later claim that none of the potential negatives of switching was made known to them.
Momentum SIPP not only put pension funds towards high-risk investment ventures, but it also failed to tailor the investments to the exact needs and circumstances of its clients. Some pension holders claim they were never told what investments were being made on their behalf.
These faults indicate a complete failure of Momentum’s duty to protect its clients.
Simply sign up below and our dedicated legal team will contact you to discuss your case further. We operate entirely on a no-win, no-fee basis so there is no risk to you in making a claim.
Where multiple people have received negligent or fraudulent pension advice from the same professional advisor/company, we can help them to recover their losses collectively. Group actions can be a powerful tool and can have a bigger impact than a single claim.
CONTACT US TO DISCUSS A PENSION MIS-SELLING GROUP ACTION CASE