Corporate & Professional Pensions (CPP) has been sold to Westerby Trustee Services after going into administration following a series of Financial Ombudsman Service (FOS) rulings against it.
The deal included the effective transfer of the self-invested personal pensions (SIPPs) and small self-administered schemes (SSASs). Adam Stephens and Nick Myers of Smith & Williamson were appointed as joint administrators of CPP on 1 February 2022. The administration was linked to CPP being unable to pay FOS final decisions related to the due diligence completed by the firm prior to taking on some pension investments, the Financial Conduct Authority confirmed. New operators Westerby is an established specialist of trusteeship and administration services for SIPP and SSAS provid...
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