Options SIPP UK LLP is pleased to announce the outcome of the judgement in the long-awaited Adams v Carey case, which has been found wholly in favour of Carey Pensions UK LLP (“Carey”), with Mr Adams’ claims against Carey being dismissed on all grounds.
The judgement was handed down this morning and relates to a claim by Mr Adams against Carey Pensions UK LLP for loss of value in an investment which was held within a Self-Invested Pension Plan (SIPP). The case was heard in March 2018.
The case was based on the fact that Mr Adams was introduced by an unregulated introducer, and that Mr Adams transferred an existing pension fund into a SIPP administered by Carey, and instructed that his SIPP purchase a number of rental units from Store First. Carey is a non-advisory pensions administrator and carried out the transaction on an execution-only basis as instructed. Mr Adams’ investment in Store First did not perform as he had expected, which resulted in Mr...
