20 March 2020
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Financial adviser Mr A, as referred to by the ombudsman, advised Ms D and Ms F to invest in a property development Scheme in Cyprus that he was planning and to then transfer their pensions into a self-invested personal pension (SIPP) with Yorsipp.
SIPP operator Yorsipp has been asked to pay compensation to two separate clients following unsuitable advice to transfer their pensions into a SIPP to invest in overseas property.
Financial adviser Mr A, as referred to by the ombudsman, advised Ms D and Ms F to invest in a property development scheme in Cyprus that he was planning. He then advised them to transfer their pensions...
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