BANKHOUSE INVESTMENT MANAGEMENT & SIPPS
Bankhouse Investment Management Limited gave many people pension advice, and often that advice was to invest their retirement money through a SIPP: Self-Invested Personal Pensions.
SIPPs can be great, but some of the investments inside them can be high-risk, and we now know some Bankhouse Investment Management client weren’t properly informed about the risk some investments like The AIGO Funds, and Carbon Credits presented.
Some were mis-sold their SIPPs by Bankhouse, and the financial-services watchdogs at the FCA may have noticed.
FCA ACTION AGAINST BANKHOUSE
Companies that want to give pension advice in the UK need to be regulated by the FCA, and have the right pension permissions.
After a while, the FCA removed Bankhouse’s permissions, making special mention that Bankhouse could not Invest people’s money into SIPPs with high-risk investments.
Later on, it removed ALL of their permissions by saying they “must cease all regulated activities”.
As things stands, Bankhouse cannot offer pension advice anymore.