SIPPs or (Self invested personal pension) is an investment method which enables people with a personal pension to invest in a range of different products, services, stocks, commodities and businesses.
Mis sold SIPPs are unfortunately a widespread issue in the United Kingdom with 100,000s of UK private pension holders being targeted by unscrupulous companies looking for ways to earn a commission.
SIPPs Claims – How Can These Complaints Be Resolved?
There is more than one way to resolve a mis sold SIPP claim, however it is difficult for an individual with no experience in this field to resolve a claim for SIPP compensation.
The reason it is so difficult is mainly due to the amount of chasing, red tape, and mostly the lack of procedural knowledge which is a challenge face by the general public.
The Answer: Mis Sold SIPPs Claims Management Companies
There are companies out there which handle cases of mis sold self invested personal pensions, these SIPPs claims companies can help people to claim compensation for a range of mis sold SIPPs.
This is a much easier way to go because these professionals will have the knowledge and expertise to help the claims reach a successful conclusion, usually on a no win no fee basis.
You do not want to be in a situation where you have a valid claim for a mis sold SIPP and you don’t know how to proceed to make the claim become a success.
This is because self invested personal pension claims (even if they are on a no win no fee basis) are often for very large sums of money, so it is important not to miss the claim or to neglect the case at any stage.
Why Are So Many SIPPs Mis Sold?
Generally self invested personal pensions are what people invest in even if they don’t know much about investments, it is thought that the reason so many SIPPs are mis sold in the UK is due to the inexperience of many of the investors.
There are companies that tend to prey on investors and market out to them on a mass scale, cold calling, SMS marketing, bulk emailing and other techniques to attract customers, people who respond to such marketing activities are commonly brought into a range of bad investments.
What Counts As A Mis Sold SIPP?
A SIPP can be considered mis sold if it fulfills any of the below criteria:
You were promised a certain level of return but that did not come through for you and you suffered financial losses as a result.
You were sold an investment which caused you financial harm and were not warned about it.
You were sold investments by people who were not regulated by the FCA and gave out bad financial advice in exchange for a financial incentive or a commission.
To find out more about making a compensation claim for a mis sold SIPP then a quick Google search will help you find suitable companies, but check reviews first on places like trust pilot.