Another useful link that explains a lot https://www.fca.org.uk/publication/archive/alert-pension-transfers.pdf

Hi HB No there was no further involvement or advice. Only when things started to go wrong... 16/01/2013 One stop wrote saying no longer authorised and regulated by FCA and it all went downhill from there really. I have an RBS bank statement indicating £130 411 . 64 (my pot) was transferred to Lifetime SIPP on 09/02/2012

I think there is a lot of useful info here Advising on pension transfers – our expectations WWW.FCA.ORG.UK This alert highlights our requirements when you provide advice on pension transfers, including advice in particular circumstances. Pasted as a web link but got above?

Hi HB Thank you No not signed anything with Claims Co Will keep you posted BF

Hi HB From FSCS website "FSCS is accepting claims against this firm. We’re aware that some Lifetime customers were advised by independent financial advisers to transfer existing pensions into a Lifetime SIPP. After the pension transfer, customers had their pension funds placed in high risk, non-standard investments. Some of these have since become illiquid, which means they can’t currently be sold or traded. For FSCS to be able to pay your claim we must prove that Lifetime failed in its due diligence - in other words, did it do certain checks on the non-standard investments that would hold its customers’ pension funds, before accepting them into its SIPP investment portfolio? Did it make sure they were appropriate for a SIPP, and did it identify any potential issues with them? Also, if it did identify potential issues, did it tell the customer?" Re TPO I inputted the company, product, advice date and start date and FSCS inform - based on the information you've given, you can apply for compensation. I am happy to give these a go on my own and feel the case against Lifetime is the strongest. There are snippets re TPO as you point out. I do feel that these companies all engaged with one another to facilitate their own gains, with the benefit of sound financial knowledge. I was merely a pawn in the whole exercise, misled and misinformed... awaiting to be taken. Part of my portfolio was a crop growing scheme, see original FSCS claim doc. I have just noted FSCS are accepting claims against Highpoint Trustees Ltd (Citadel Trustees Ltd) company ref no 485414. As with TPO I have details of the agreement but nothing really to prove negligence, although the company must bear some responsibility. If I claim I guess this will have to be for FSCS to decide. It's such a shame that more info regarding SIPP claims is not shared on the GAG, it could prove an invaluable resource for many whose pensions were adversely affected. I haven't thought about what to do with any compensation should I be successful but will certainly make a donation to this valuable resource The CAG

Hi HB Sorry, can you explain linking decisions please. I have attached the original supporting info from the claim against One Stop in 2015 that was upheld. FSCS Original Claim.pdf

Yes defined benefit scheme closed. I cant see any specific recommendations, it appears to me Lifetime put together the portfolio that was accepted by me. I am puzzled that no one seems to be responsible for financial advice here. FSCS have payed the majority of claims against Lifetime and according to the claims firm TPO also, there must be something amiss.

The company I worked for opted out of this pension. Employees were encouraged to start a L& G pension as I recall.vPension was then frozen as it were

Hi The scheme I was in was frozen so manly accrued cost of living if I recall correctly. As I saw it One Stop we’re not qualified to advise so sought advice from TPO. I assume as IFA would there be liability on TPO for not looking into proposal of international investment for SIPP. The position of TPO isn’t very clear… why would One Stop need info from a second IFA

Hi HB Are TPO referring to a conventional portfolio with the suggestion the proposed one would do better? Where is the advice not to transfer they refer to? I am aware claims companies will have a wealth of info from other test cases available. I felt they were convinced there would be a case against TPO. There are some misgivings and the company were responsible for poor advice. I feel these companies all fed each other to a degree in the SIPP failings Did you feel the Lifetime info was relevant? Are TPO not failing by not looking into the proposal from One Stop re the proposed assets? Big Fish

Hi HB I am claiming against both parties for uncompensated loss - a hypothetical value of my pension fund £262,851.67 being quoted, when FSCS awarded £50000 against One Stop in 2015. TPO - Losses flowing from the advice of this IFA to transfer pension into a SIPP and any associated investment losses. I believe they failed to take into account my financial circumstances, objectives, and attitude to risk (medium). A report was produced that was suggestive of transferring my assets in order to realise maximum values. Consequently I transferred my pension scheme to an investment that represented a much higher level of risk than was suitable for my attitude to risk. My knowledge and understanding of investments and investment strategies was low. One Stop quoted "You are aware that 1 Stop Financial Services do not offer advice or hold the necessary permissions to conduct reports on these schemes so with your permission we contracted a qualified pension specialist, The Pensions Office Ltd to analyse this for you." I question the purpose of TPO involvement, did they analyse or conduct reports on the schemes? They are also suggestive of my pension's growth not being achievable growth over a medium to long term from a conventional portfolio of investment funds. I do not recall any further contact/advice from TPO in regard to my proposed transfer to SIPP. In summary I feel TPO did not offer best advice considering my financial circumstances and attitudes to risk. There appears to be a lack of due diligence here with no sound acknowledgement of risk to safeguard my investment. The actions of TPO enabled substantial profits for advisers and introducers whilst in essence, they should have been looking after my best interests. At the time I had no real idea of complexity of what I was about to invest in. As a consequence, I lost safe guarded benefits that would have provided for my dependents in the event of my death and a considerable amount of income for at retirement. These provisions were mentioned by TPO referring to their questionnaire. Lifetime SIPP - Losses arising from due diligence failures as SIPP Operator. If the company was still solvent I could claim in the civil courts requesting to be put back in the position I would have been in but for the firm’s due diligence failures. I believe the firm was negligent, not completing checks on the non-standard investments that would hold my pension funds, before accepting them into their proposed SIPP investment portfolio. I now question whether they were ever appropriate for a SIPP, and whether they identified any potential issues. If they did so I was not made aware. The transfer was facilitated by Lifetime, knowing I was to invest in an unregulated illiquid investment and the high risk nature of these investments was not properly explained. There is obviously some crossover with the contents above between each complaint. Big Fish

Yes that is the correct sequence of events. At the time I originally claimed against One Stop the limit was set at £50000. I think One Stop recommended the investments and prepared what was referred to as my portfolio.

Many thanks for this Dx I did try and merge original docs as PDF having scanned as JPEG's but over 5Mb, limit said 4.8Mb

I claimed through FSCS on my own. Hence the reason to try and recoup more of my lost funds from the 2 companies who have since liquidated and considered at fault.

Hi HB Unfortunately I don't, there was very little communication as I recall. The majority of communication came from what I think is termed an "introducer". This was an ex work colleague who initially brought the SIPPs to the attention of numerous employees left with sizable frozen pensions by the company at the time. As previous, I have already received £50000 due to One Stop's involvement, just included this as thought may have some significance. Regards Big Fish