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Two firms have been told they must pay compensation to clients after unsuitable advice relating to a SIPP.
The Ombudsman has ruled that an adviser must compensate a client who lost nearly £30k through an unsecured Sipp loan.
An ex-adviser who turned client and says he lost £30,000 due to a pension transfer delay has been successful in his complaint against Intrinsic Financial Planning.
The latest data from the Financial Ombudsman Service suggests SIPP complaints will be 25% up year on year and could top 2,000.
The ombudsman has ruled against an advisory firm over a Sipp transfer for which the introducer was unregulated, despite “limited evidence” it was providing advice.
The Ombudsman has ruled against adviser firm Sesame in a case surrounding advice for a Sipp transfer.
The FOS has ruled against an IFA firm over a Sipps case, concluding that ‘unsuitable advice’ was given.
The FOS has ruled a firm was wrong over its claims that a man it advised was an insistent client and ordered it to pay compensation.
The top 20 firms with the highest proportion of FOS complaints resolved in favour of the consumer in the life, pensions and decumulation category have been named.
The proportion of Sipp complaints upheld during this financial year is higher than the last, with one quarter still to go.
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