Many people look to financial experts to help them plan for their future. However, these financial advisors must offer advice in your best interests. If they pressure you into surrendering an existing personal pension plan to take out a self-invested personal pension (SIPP) plan and you lose money, you may have mis-sold SIPP claims. Professionals such as Lincoln Green Solicitors can help.
Understanding a Mis-Sold SIPP
You may have mis-sold SIPP claims when an advisor fails to explain or investigate the potential risks accompanying your transfer to a SIPP. For example, a mis-sold SIPP could contain high-risk, unregulated investments that aren’t compatible with your risk profile.
You may have been misled about how the investments within the SIPP have performed, and often those mis-selling have cold-called you or been introduced by an unregulated person. They may offer a free review of your existing pension and then tell you you could get much higher returns. However, they often downplay the associated risks.
The Problem with SIPPs
The nature of SIPPs makes them not suitable for everyone. They are often high-risk, unregulated investments that aren’t appropriate unless you have a high-risk profile. You may be among the many people who don’t have investment experience or understanding of the risks associated, and these financial advisors recommend SIPPs that cause you to lose your hard-earned pension funds.
The investments may perform poorly, and you could even lose your entire pension fund. If you think you have one of these mis-sold SIPP claims, it is essential to work with an expert who can help you.
For more information Contact Lincoln Green Solicitors Visit lincolngreenlaw.com
Address: Artemis House, 4 Bramley Rd, Bletchley, Milton Keynes MK1 1PT, United Kingdom
