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Rowanmoor SIPP "Closed to New Business"

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Pension product providers Rowanmoor SIPP has confirmed on its website that it is "closed to new business" but will remain open to existing clients.

All new Self Invested Personal Pension (SIPP) enquiries are now directed to Embark Pensions, part of the parent Embark Group. Rowanmoor SIPP, made up of three companies, Rowanmoor Executive Pensions Limited, Rowanmoor Trustees Limited and Rowanmoor Personal Pensions Limited, has attracted criticism in the past following underperforming overseas property investments.

Commenting on recent developments with Rowanmoor SIPP, Peter McKenna on LinkedIn, Partner and Head of the Financial Mis-Selling team at TLW Solicitors said:

“Given the past criticism that Rowmanmoor faced over the investments which it allowed into its SIPPs, this decision its management reached does not really come as a surprise. It will be interesting to see how the situation develops further in the coming months.”

Investors concerned about their investment and/or the advice they were given, may be able to recover compensation for their losses through the civil courts for negligent professional advice. Another way of claiming compensation is through the Financial Ombudsman Service (FOS), a City regulatory body set up to resolve complaints between FCA regulated financial businesses and their customers.

Alternatively, where an investment provider goes out of business, compensation claims up to the value of £85,000 can be made through the Financial Services Compensation Scheme (FSCS), a Government-backed body set up to protect customers from failed investment companies.

Working on a ‘no win – no fee’ basis, TLW’s experienced team can help you through either the civil court, FOS or FSCS compensation routes. Our clients are reassured by our knowledge and experience of dealing with these cases and, indeed, with FOS and FSCS cases, we have had claims successfully upheld for clients whose claims had previously been refused on purely technical grounds.

If you are concerned about your, a friend or loved one’s investment with Rowanmoor SIPP, please get in touch with TLW Solicitors for a no-obligation initial discussion by calling 0800 169 5925, email or complete our call back form.

Time limits can apply, so you should contact us without delay.

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“Given the past criticism that Rowmanmoor faced over the investments which it allowed into its SIPPs, this decision its management reached does not really come as a surprise.”

Peter McKenna