Mr. S invested £22,000 into an overseas forestry in 2010 and in 2016 it became clear that the company that owned the asset/forestry had gone into receivership and the mis-sold SIPP, with a Trustees, had moved into default.
Mr S believed that he had been mis-sold the investment. He made a no win no fee pension compensation claim via Financial Services Compensation Scheme for a mis-sold SIPP 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 mis-sold pension compensation of £31,000.