Carey Pensions accused of being 'in bed with scammers' during SIPP trial

Client was warned of risk

Hannah Godfrey
clock • 2 min read

Self-invested personal pension (SIPP) administrator Carey Pensions has been accused of being "in bed" with scammers during an ongoing trial brought against the firm by a customer.

Lorry driver Russell Adams has alleged SIPP administrator Carey Pensions mis-sold him a SIPP. He and his lawyers have accused Carey Pensions of using a Spain-based unregulated introducer to facilitate investments in Store First unit pods. Speaking at the High Court in central London on Thursday, Adams' legal representatives accused the SIPP administrator of being "in bed" with pension scammers. They said the unregulated introducer possessed the hallmarks of a scammer, including asking for upfront payments and encouraging individuals to liberate their pensions into riskier investments,...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Advisers concerned about regulatory scrutiny in decumulation phase

Advisers concerned about regulatory scrutiny in decumulation phase

Retirement planning ‘dominates’ client advice requests

Isabel Baxter
clock 27 November 2024 • 3 min read
Advisers call for new products to tackle retirement planning challenges

Advisers call for new products to tackle retirement planning challenges

Retirement products ‘don’t meet modern needs’

Isabel Baxter
clock 25 November 2024 • 3 min read
How advisers can play a role in boosting wellbeing in retirement

How advisers can play a role in boosting wellbeing in retirement

A happy retirement is the 'north star'

Cecilia Furner
clock 08 November 2024 • 3 min read