Avalon SIPP – Embark

If you have an Avalon SIPP (Self-Invested Personal Pension), you may have been mis-sold. Mis-selling is when risks aren’t properly explained. You could be owed compensation.

What went wrong with Avalon SIPPs

  • Avalon put people’s SIPPs into high-risk investments
  • Some investments failed, causing big losses
  • In 2016, Avalon collapsed after a £2 million claim
  • The Embark Group bought Avalon in 2016
  • But in 2018, Avalon was dissolved as complaints increased
  • In 2020, Avalon was declared ‘in default’

How Multicorp Rose was involved

  • Multicorp Rose financial advisers recommended Avalon SIPPs
  • They used unauthorised ‘pension introducer firms’ to get clients
  • This put them under investigation by the Financial Conduct Authority
  • Multicorp Rose later collapsed too

What to do if you think you were mis-sold

Over 200 people have complained about mis-sold Avalon SIPPs so far. The Financial Services Compensation Scheme (FSCS) has paid out £264,000 in compensation.

If you had an Avalon SIPP, you may have a claim. Contact our team for help – see our contact page for details.

Summary:

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