GPC SIPP enters administration after fighting Harlequin claims

Administrators Smith & Williamson (S&W) have been appointed as joint administrators of the self-invested personal pension (SIPP) provider. GPC - previously known as Guardian Pension Consultants Ltd - filed the appointment of administrators with the court on Tuesday (11 June) because it had become insolvent. S&W said GPC has 2,700 SIPPs that are deemed to hold alternative investments in the Harlequin property scheme, all of which were placed between 2009 and 2012. In light of problems with those investments, the company has not marketed its services since 2013. Harlequin took around £4...