Montpellier Pension
Did you get advice from Montpellier Pension?
In January 2018 the FSCS declared Montpellier Pension Administration Services in
default. About 40% of the investments made in the Montpelier SIPP between 2009 and 2011 were non-standard. Since October 2011 Montpelier has not been authorized by the FCA and the clients and assets of Montpelier were bought by Curtis Bank. Montpelier misled the British people about SIPP pension products. They advised their clients to transfer their pension savings from the secure scheme into high-risk investments in oil fields, offshore property, and storage pods that were not regulated by the FCA. When some of the investments failed, clients lost their entire pension.
Montpelier had a duty to complete adequate due diligence on the investments that they accept within their SIPPs. If the relevant checks had been completed, the clients would not have lost a substantial amount of money. Montpelier should have been made aware that they were retail clients and they were therefore unsuitable for investments that were not regulated by the FCA.
If you have a SIPP/SSAS or Family Pension Trust with Curtis Bank, which was originally set up by Montpelier you may be able to claim for compensation.
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