A total of 900 clients with assets worth £297m have been transferred out of failed Hartley Pensions (Hartley) by its administrators UHY Hacker Young.
In an update released today (7 January), the accountancy firm said further transfers were ongoing and it appreciated clients' patience as the self-invested personal pension (SIPP) business went into administration back in July 2022. Hartley went under after it made a series of SIPP book acquisitions from insolvent operators between 2018 and 2021. These books of business were found to contain "toxic assets". UHY Hacker Young said the administration had been "extremely complex" because of these investments as well as incomplete records held by Hartley. It added that poor integration...
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