SIPP operator to compensate two clients for unsuitable Cypriot property investments

In Cypriot property

Sophie King
clock
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.
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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 pens...

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