SSAS complaint against Rowanmoor Trustees upheld by TPO

Comes after it did not fulfil its duties as a trustee of a SSAS scheme

Isabel Baxter
clock • 2 min read

The Pensions Ombudsman (TPO) has upheld a complaint against Rowanmoor Trustees after it ‘did not fulfil its duties’ as a trustee of a small self-administered scheme (SSAS).

The decision by the TPO - published on 1 February - outlined the complainant's (Mr N) case, who argued that Rowanmoor failed to perform sufficient due diligence in relation to a SSAS scheme. In 2013, the complainant was advised by unregulated firm First Review Pension Services to invest in Dunas Beach. He was then contacted by regulated firm Sequence Financial Management, who introduced him to Rowanmoor. On 5 January 2014, Mr N completed an application for the SSAS scheme with Rowanmoor. The scheme was an £62,500 investment in a 33% share of the Dunas Beach hotel suite. At the time of...

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