Another SIPP provider – the Lifetime SIPP - has entered administration following claims lodged against the company.
We understand Lifetime has exposure to failed investments such as Harlequin, Ethical Forestry, InvestUS as well as other high risk or unregulated investments such as The Resort Group and Rimondi Grand just to name a few.
Hartley SAS, which was previously the SIPP administrator, has now purchased the assets of the company and Lifetime SIPP has gone into liquidation. The appointed insolvency practitioners are Kingston Smith.
Lifetime’s failure follows in the wake of Brooklands, Montpelier and Stadia.
Lawyers close to the situation believe Lifetime clients too will end up claiming from the lifeboat scheme, which has an upper compensation limit of £50,000 for investments.
Understanding Your Options
If you are not sure how to proceed and have been told to sit tight and wait, you may find that you simply run out of time.
A quick phone call to us could give you the clarification you need to find out if you may be entitled to compensation.
You may also be entitled to compensation if you had previously received compensation from the FSCS against the IFA (and your losses were greater then the £50.000 awarded).