Oakwood Solicitors

Mis-sold Pensions

Have you been mis-sold
a SIPP?

  • Solicitors firm with over 15 years’ experience in
    financial mis-selling claims
  • No-Win, No-Fee
  • No upfront cost
  • We charge only 30% +VAT for a successful claim
  • £1.6 million recovered for clients in the last 12 months
  • Free initial consultation

Make a claim now

Call for a free consultation

0113 218 5700

or fill out our contact form

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Testimonials

Excellent service thank you

Once again I have received excellent service from Oakwood Solicitors in dealing with my mis-sold pension claim. Without the help of the team I would of not been able to recover £50,000. Excellent work thank you once again.

- P Jones

I was so pleased

to say that I had the best experience from Oakwood Solicitors where they helped me get my big compensation from FSCS. Not only that, just within 4 days time of literally submitting the claim, I received amount in my account.

- N Shah

Well done

Well done, Financial Litigation Department Never thought I would see a penny. Oakwood proved me wrong. Easy to talk to. Professional service, always updating throughout the process. No hesitations in recommending your services. Thank you.

- A Patel

Outstanding

and left no stone unturned throughout a lengthy and difficult process. Oakwood Solicitors were professional, polite and informative as well as supportive throughout. We are delighted with the outcome.

- A Binns

Pension stolen from SIPP

After trying to fight this case myself for years, I put my trust into Oakwood Solicitors, who kept me informed every step of the way and managed to get me compensation for the pension which was stolen. They managed to get back almost all what I lost.

- Paul Connor-West

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£1.6 million

recovered by Oakwood Solicitors for clients in the last 12 months.

hand coins money

£26 billion

has been paid out by the FSCS to customers of failed financial firms

suitcase briefcase coins money

£213 million

has been set aside by the FSCS for pension claims in 2020/2021

The experts in Financial Litigation claims

Oakwood Solicitors Ltd specialises in Financial mis-selling claims. We have a Financial Litigation team dedicated to assisting clients who have lost money as a consequence of negligent advice in relation to a financial product, such as a pension or an investment.

What is a SIPP?

Self Investment Personal Pensions or SIPPs, as they are more commonly known, are ‘do-it-yourself’ pensions that are designed for experienced or sophisticated investors who want greater control over their pension and a greater degree of flexibility in the types of investments that their pension makes.

How do I know if I’ve been mis-sold a SIPP?

It is important to note that not all SIPPs are mis-sold. If you are unsure if you were mis-sold a SIPP then check out the common mis-selling features below.

It is likely that you were mis-sold a SIPP if you:

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Were not given the full cost breakdown for management fees or additional costs attached to the pension investment

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Invested without fully receiving an explanation of the risks including the potential to lose your pension

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Were cold-called by a 3rd party company

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Had been told your pension investment would grow considerably and would provide a large return

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Were pressured into acting quickly or because you were told you would risk losing out

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Were told that you could take a large lump sum of cash out of your pension or access the pension before your retirement age

What are my options?

If you are concerned that you may have been mis-sold an investment held within your pension, then do not panic. It may be possible to pursue a compensation claim against the IFA involved in the investment or the provider of your SIPP.

The first step should be to contact a specialist firm like Oakwood Solicitors who will investigate your pension FREE OF CHARGE and advise you if you have a claim. If you have a claim then Oakwood Solicitors will handle the whole claims process for you and will offer advice, support, and guidance every step of the way.

Oakwood Solicitors will act on your behalf on a ‘no-win, no-fee’ basis, giving you complete peace of mind that you will only pay a fee if your pension claim is successful.

Reassurance about your pension package

If after investigating your pension we confirm that there is no loss, then you will have the reassurance that your pension is safe and secure and will have obtained this reassurance completely free of charge.

If you prefer, you can raise an initial complaint with the IFA or SIPP provider yourself but many people prefer to instruct a specialist firm with experience of handling SIPP complaints to ensure they achieve the best possible outcome in the shortest timeframe.

Adviser is no longer trading

If the adviser who sold you the investment is no longer trading or does not have the financial means to pay you compensation then the Financial Services Compensation Scheme (‘FSCS’) assumes responsibility for the adviser and will be responsible for the payment of compensation.

Why should I use a solicitor?

Pensions are complex. To be able to identify a problem with your pension, first of all you have to know what you are looking for. Once you have identified the issue, you then need to be able to articulate the problem with reference to any legal or regulatory frameworks.

By using a solicitor who is a specialist in pension mis-selling you will ensure that you put your best case forward and maximise your chance of success.

We have seen numerous cases in the past where pension mis-selling victims have pursued a legitimate claim themselves, only to have it turned down due to a technicality or because key grounds have not been particularised.

Higher success rate

You have a higher chance of success by working with a Solicitor, who will ensure that there are no technical grounds for turning down your mis-sold pension claim and put you in the best possible position to receive what you are owed.

Why choose Oakwood Solicitors Ltd?

We are a Regulated firm of Solicitors with over 15 years’ experience in financial mis-selling claims

We have successfully recovered in excess of £1.6 Million in the last 12 months

We operate on a guaranteed No-Win, No-Fee basis. If successful we charge 30% plus VAT of the award of compensation

Our charges are some of the lowest in the market when compared with other Solicitors and Claims Management Companies (CMC’s)

Eliminating hassle

We take the hassle out of the claims process as we do all the hard work for you. We will complete all the necessary paperwork and obtain all the required documentation to support your claim

You will be allocated your own experienced pension claims handler who will keep you fully informed throughout the whole process

Frequently Asked Questions

How long does a mis-sold pension claim take?

There are a number of features that will impact how long a mis-sold pension claim may take to conclude. These include the complexity of the case, whether the claim is against an active adviser, the Financial Ombudsman or the FSCS, and whether liability is admitted or denied.

If liability is admitted, then the claim process is much shorter, and we would expect a claim to be concluded within 3-6 months. Alternatively, if liability is denied and the claim must be issued at court then the claim can take between 12-18 months depending on the availability of the court.

If the claim is been made against the FSCS then we would expect the claim to be concluded within 6 months.

As each case is unique it is difficult to provide a generic timeframe for conclusion of the claim however Oakwood Solicitors will give you an indication of how long your claim is likely to take to conclude as part of our initial review.

How much will a claim cost?

We operate on a Damages Based Agreement (“DBA”) more commonly known as a ‘no-win, no-fee’ agreement. If we fail to secure you a mis-sold pension settlement, you will not be charged. If we successfully recover compensation, then our charges are 30% plus VAT of any compensation payment. These charges will be deducted from the compensation payment at the end of the claim process.

How much compensation will I receive?

We cannot provide an exact figure for how much compensation you will receive until we understand more about your claim.

The general purpose of a pension claim is to put you back in the position you would have been in, had you not received the negligent pension advice.

If your claim is against an active adviser, then the sum of compensation that we will seek to recover will be equivalent to any losses that you have suffered.

If your claim is against the Financial Ombudsman, then the compensation cap if £150,000.00. This means that the Financial Ombudsman can award compensation up to a maximum of £150,000.00.

If your claim is against the FSCS then the compensation cap for any firm that was declared in default on or before the 1st April 2019 is £50,000.00. If the firm was declared in default after the 1st April 2019 the compensation cap is £85,000.00 per person, per advisor.

What do I do now?

Provide us with some information about your pension transfer and we will advise you if you have a viable claim. There is absolutely no obligation to proceed. You can provide information or get in touch by:

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Danielle Lightfoot — Solicitor and Head of Department

Danielle joined the firm as a Paralegal in 2011 and qualified as a solicitor in October 2014. She has acquired extensive experience in high value, complex litigation traversing numerous practice areas.

Danielle is a specialist in financial mis-selling matters with a particular interest in pensions and investments.

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