Who Are Liberty SIPP?
Liberty SIPP was once a Self-Invested Personal Pension (SIPP) provider. They however got themselves entangled within the mis-sold pension debacle which led to a legal battle and eventually, their demise. Liberty accepted investments from clients, both advised and non-advised into a wide range of high-risk and speculative investments such as Ethical Forestry, The German Property Group (formerly Dolphin Capital GmbH), and InvestUS, often without completing adequate due diligence on these investments.
What Went Wrong?
They began to receive claims from investors for their lack of due diligence and breaches of duty of care to their clients. Their client bank was then purchased by Embark Pensions, leaving their liabilities with Liberty. As much as they fought these claims, they couldn’t hide from the truth that they caused millions of pounds worth of losses for their clients.
They quickly found out that neither they or their insurance could pay out these claims and the firm ended up entering administration in 2020. Following this, the Financial Services Compensation Scheme has paid out over £24.5 million in claims to investors that have lost money due to the company’s negligence. If you held investments with Liberty SIPP Limited, complete the form on the page and one of our experts will be in touch to review your case, with the view to claiming back any compensation that you deserve!