What You Need To Know About CIB Life And Pension SIPP Claims
It came as no surprise when we saw that the CIB Life and Pensions appeared in The Gazette when it underwent liquidation on the 20 May 2015, soon after it was “caught out” in association to SIPP suitability rules.
To cut a long story short, The Financial Ombudsman found that CIB Life and Pensions were found to be at fault for selling high-risk and unregulated investments (which involved Harlequin Properties) to individuals who were deemed as unsuitable, which placed these people’s pensions at a high risk.
Yet Harlequin Properties were not the sole overseas property investments associated with high risks for CIB Life and Pensions that were sold to people who it shouldn’t have. If you were one of the many people who took the advice from CIB Life and Pensions, particularly when you were given advice to make an investment into an overseas resort, it is probably the right time to obtain a 2nd opinion about this advice, to assess whether you can claim, where you can re balance the risk exposure and potential loss for your own pension.
What Was The Advice That CIB Life And Pensions Gave?
CIB Life and Pensions most probably dealt with a host of different things, yet it was for certain it gave an abundance of advice on a non-FCA regulated and high-risk investment, known as The Resort Group in Cape Verde.
The Resort Group was meant to be operating and building a variety of hotels based in Cape Verde like the Llana and Dunas Beach, yet a few investors reported on a number of patchy results.
As one of the non-standard investments, The Resort Group was supposed to be marketed to a specific type of investor.
Did CIB Life & Pensions Mis-Sell Your SIPP?
Each of the potential claims should be treated on the case-by-case basis, yet we are aware that CIB Life and Pensions have mis-sold individuals their SIPPs before, through at least talks conducted at business and money clubs.
A good way to establish for sure, whether you were mis-sold will involve speaking to an expert. Here at theYEC, we conduct this part for FREE which forms a part of our initial assessment. After the first consultation, you make the decision if you will like to proceed with your claim with our No Win- No-Fee basis, which offers you with full access to the experience and knowledge that we have with No Upfront Costs.
Are You One Of The Sophisticated Investors?
Are You Classified As A High Net-Worth Individual?
Did the adviser that you use make sure you earn over £100k every year, or whether you have assets that are worth more than £250k which are not inclusive of your pension and home. Which is another of the stipulations when it comes to recommending an unregulated investment.
Were You Told About Regulation And Risk
The above are only a few of the primary failing points that we commonly see at theYEC. If you think you might have been mis-sold your CIB Life and Pensions SIPP Investment, you can find out for Free and you can also proceed with a claim with our No Win No Fee basis.