Mattioli Woods takes on administration of Freedom Sipp
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Pensions consultancy Mattioli Woods has been appointed agent of Freedom Sipp, offering ongoing administration and consultancy services to clients as the scheme is wound up.
Mattioli Woods has been appointed agent by the scheme’s liquidators, PricewaterhouseCoopers.
The firm says that there are approximately 180 clients in Freedom Sipp who have been facing uncertainty and the threat of the move by HM Revenue & Customs to deregister the scheme, resulting in the imposition of highly punitive tax charges.
Mattioli Woods says it will now focus on providing robust administration around the winding-up of the Freedom Sipp, allowing clients to continue having their Sipp administered by the firm or clients or assisting them in transferring to alternative providers.
Mattioli Woods chairman Bob Woods says: “Whilst it was important to assess Freedom Sipp in a business context, it was also important to ensure that the members caught up in the scheme’s problems are properly advised to bring their affairs back on track as soon as possible.
“This is particularly relevant in the aftermath of the banking crisis and what is still a very difficult economic and investment climate. We look forward to working closely with the members of the Freedom Sipp to restore their confidence in the scheme and ensure their affairs are back on track as soon as possible.”
AIM-listed Mattioli Woods acts for around 3,000 UK clients, offering scheme administration, pension consultancy and retirement wealth management.
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Readers' comments (3)
PensionMan | 25 Jan 2010 1:15 pm
This is good news for Freedom SIPP clients. MW are a good company with sound administration systems.
Hopefully HMRC will be lenient on them if they find that the Freedom SIPP book of business is littered with taxable investments!
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Anonymous | 25 Jan 2010 1:56 pm
We said Freedom was endangering clients with French leaseback residential investments held within the SIPP - I would be surprised if MW take these clients on !
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Anonymous | 26 Jan 2010 8:56 pm
"We said Freedom was endangering clients with French leaseback residential investments held within the SIPP - I would be surprised if MW take these clients on !"
I think you will find that Liberty SIPP also operate the French Leasebacks, would they be endangering clients also? I find it disgusting the way Freedom are continuely slated when all along the problems the FSA found could have been corrected swiftly!
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