SIPP pension provider Berkeley Burke now in Administration
Berkeley Burke have appointed Adrian Allen and Diana Frangou of RSM Restructuring Advisory LLP to be the joint administrators over the firm’s insolvency proceedings, with many of their SIPP client book being sold to Hartley Pensions.
What happens now for Berkeley Burke clients?
According to the FCA’s website, the administrators immediately sold the SIPP business to Hartley Pensions Limited (a firm that has stepped in and purchased failed SIPP accounts before).
One of the things that their clients now need to ask themselves is whether they have invested in high-risk investments?
Did you transfer your pension into a Berkeley Burke SIPP?
Were you advised to invest in high risk investments such as:
- Storage Pods
- Ethical Forestry
- Premier Children’s Services
- Sustainable Energy
These investments were not suitable for most investors because they presented too much risk. Because of this, investors were not often informed of the high risk involved with these investments.
Now, the FSCS has said that it will consider paying compensation to former clients of Berkeley Burke. As a result The Claims Shop are now helping many clients with their investments.
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