Rowanmoor Personal Pensions declared failed by the FSCS

Nearly 1,500 complaints have been made against the SIPP provider

Isabel Baxter
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) has declared self-invested personal pension (SIPP) provider Rowanmoor Personal Pensions as failed.

The lifeboat fund told Professional Adviser that so far it has received 1,464 claims against the firm, all relating to its actions as SIPP operator. On 31 August 2022, Rowanmoor directors appointed Adam Stephens and Christopher Allen as joint administrators.  Stephens and Allen will continue to run Rowanmoor's business and will try to find a new SIPP operator to take over the administration of its SIPPs. Pension assets are held by Rowanmoor Trustees, which has not entered administration. The FSCS has said that the joint administrators will be writing to clients of Rowanmoor to expl...

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