Reyker Securities SIPP Fraud: Mis-Sold Pension Investments
Thousands of UK investors were advised by Reyker Securities to transfer pensions into high-risk SIPPs (Self-Invested Personal Pensions), often without proper risk warnings. Many final salary transfer cases involved unsuitable investments, leaving retirees facing financial hardship. If you suspect pension mis-selling claims apply to you, a free pension consultation could clarify your options.
Understanding SIPP Transfer Risks
The UK’s SIPP transfer market saw widespread misconduct between 2010-2018. Reyker Securities frequently recommended moving safeguarded pensions into unregulated investments like:
- Offshore property schemes
- High-risk bonds
- Unlisted shares
These products often carried hidden fees and liquidity issues, contradicting the Financial Conduct Authority’s suitability rules.
How to Identify Mis-Sold SIPPs
Your Reyker Securities pension transfer may be mis-sold if:
- Advisors downplayed the risks of leaving a final salary pension
- You weren’t warned about high charges or illiquid assets
- Investments didn’t match your risk tolerance
One affected client stated: “They promised 8% returns from student housing projects, but my capital vanished in 2 years. Nobody explained I’d lose FSCS protection.”
Reyker Securities’ Regulatory Failures
The firm entered administration in 2019 after FCA investigations revealed systemic SIPP fraud patterns. Key issues included:
- Inadequate due diligence on third-party investments
- Failure to verify clients’ financial literacy
- Commission-driven advice models
Compensation Pathways for Victims
Time limits apply to mis sold pension claims, but eligible individuals can pursue:
- Financial Ombudsman Service complaints
- Financial Services Compensation Scheme applications
- Professional negligence lawsuits
Many claimants secure compensation through professional claims review services that handle complex cases.
Next Steps for Affected Investors
If you transferred pensions through Reyker Securities:
- Gather all advice paperwork and performance statements
- Compare promised benefits with actual outcomes
- Document any pressure tactics used
With over £120 million already repaid in similar pension mis-selling claims, expert help is available. Consider a no-win-no-fee assessment to evaluate your case strength without upfront costs.