Troubled SIPP operator Guinness Mahon sold to Hartley Pensions

Administrators from Smith & Williamson (S&W) were appointed on Monday (17 February) and immediately concluded the sale of the business and certain assets to Hartley Pensions. The sale included around 4,000 self-invested personal pensions (SIPPs) previously administered by Guinness Mahon. Guinness Mahon entered administration following a number of claims made against it relating to non-standard investments in its SIPPs. Last year Professional Adviser reported the SIPP provider had opened SIPP schemes for clients after recommendations from unregulated agent Avacade, which cold-called...