Mr H invested £19,000 in carbon credits in 2013 and in 2017 it became clear that the carbon credit market had collapsed and whilst the SIPP held with a trustee SIPP which had not moved into default at that time a claim was made by Mr H as he believed he had been mis-sold the pension by the IFA.
He made a claim via Financial Services Compensation Scheme for a mis sold pension and it was decided that the IFA involved had not acted in the clients’ best interest. The Financial Services Compensation Scheme found in the client’s favour and he was awarded compensation of £22,000.
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