Have you had a pension with Montpelier? The company mis-sold many pensions, and you may be entitled to compensation if you are affected.
The Financial Conduct Authority (FCA) has found systematic failures with several Independent Financial Advisors (IFAs) and Self-Investment Pension Providers (SIPPs), and this has led to many mis-selling pension claims. Montpelier Pension Administration Services Ltd was one such pension provider.
Montpelier Pension Administration Services Ltd owned and operated money from several pension schemes. During 2009 – 2011, 40% of SIPP investments made by Montpelier were non-standard (higher risk investments).
In October 2010, a supervisory visit discovered that the company was not following the proper guidelines. These guidelines exist to protect clients. Following this visit, in 2013, the FCA banned Montpelier’s managing director Kevin Wells from performing any significant influence function at any regulated firm, and also censured him.
According to the FCA, Wells:
As a result of these failings, Montpelier:
All of this put client money at risk. In fact, many of the investments were unregulated or non-standard, extremely risky and could have resulted in people losing their entire pensions. As a result, the business has been accused of mis-selling and may owe compensation to its clients.
In 2018, the Financial Services Compensation Scheme (FSCS) declared Montpelier to be in default, but you can still make a claim.
If you think you might have been mis-sold a pension from Montpelier, contact us today and we will review your situation. If you have a claim, we can help you to get the compensation you deserve.
SIPP providers are responsible for undertaking checks with you, your financial adviser, and the investments being entered into. If any of the following apply to you, you may have been mis-sold a SIPP:
Technically, you could make a claim yourself. But without the right professional advice and guidance, your claim could be inefficient and lead to you getting less compensation. And that’s if you win. You could also be liable for the other side’s costs if you lose.
Here at Keller Postman UK, we provide professional, no-win, no-fee legal support for our clients. We work to ensure that you get the justice and compensation you deserve, so you are not out of pocket due to being mis-sold or misadvised about your pension investments.
Contact our specialist team now.
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