Glasgow IFA to compensate client over SIPP transfer and carbon credit investment

Mr M, as referred to by the ombudsman, was recommended by the Glasgow-based firm to switch his stakeholder pension to a self-invested personal pension (SIPP) in 2012. He was then told to invest the full amount in carbon credits. The investment subsequently became illiquid. At the time, the pension report Cowley completed recorded that Mr M was 48-years-old, married, earning around £1,500 per month and had a reasonable knowledge of investments as he had an existing pension plan worth £41,904. His main needs were to review his existing pension arrangement and to discuss investing in car...