Rowanmoor is no-more – have you lost money?

On 31 August 2022 the well-known self-invested personal pension (SIPP) operator, Rowanmoor Personal Pensions Limited (Rowanmoor/RPPL) entered into administration.

The Financial Conduct Authority commented that: “RPPL received complaints about historic high-risk non-standard assets and for not carrying out adequate due diligence before accepting these assets into customers’ SIPPs.

“RPPL sought professional advice about the liabilities arising from existing and potential complaints. Having done so, RPPL’s directors determined that the company was insolvent and should be placed into administration.”

SIPP operators like Rowanmoor are under a legal duty to ensure that they undertake adequate due diligence into an investment before accepting the investment into their SIPP.

For example, the SIPP operator should conduct enough due diligence to ascertain that the investment can be independently valued, is legitimate and not a criminal enterprise, and that the investment was advised on and recommended by a regulated independent financial adviser.

A SIPP operator which fails to undertake adequate due diligence into an investment before accepting it into their SIPP risk causing consumer detriment and financial loss to their customers.

How we can help

If you hold a SIPP with Rowanmoor, or with another SIPP provider, and you think that you have lost money as a result of an investment that you held within your SIPP, please contact Tristam Razzell immediately, who will be happy to have a free, no obligation discussion with you to determine whether you have a claim for compensation.

Tristam can be contacted by email at [email protected] or by telephone on +44 (0)1892 765 428