MFS PARTNERSHIP (SW) LLP & SIPP PENSIONS
MFS Partnership (SW) LLP isn’t running anymore, in fact it’s been declared in default with the FSCS, meaning that the life-boat fund is satisfied that MFS Partnernship can’t pay clients compensation if they’ve received bad advice, and the FSCS will have to pay instead!
But the big question is, did MFS Partnership deal with YOUR pension?
DOES THIS CLAIM SOUND FAMILIAR?
Reported in FT adviser, Mr S was a client of MFS Partnership in 2012, and transferred £210,000 into a SIPP pension, and invested in the New Earth Recycling Fund – a high-risk investment, not regulated by the watchdogs at the FCA.
Mr S lost a lot of money when New Earth began to go wrong.
The Ombudsman helped Mr S get compensation, but can’t take on new cases against MFS Partnership now the firm has gone into liquidation.