May 25th, 2018 / Insight posted in KS News

Hartley Pensions Ltd acquires untainted assets of collapsed The Lifetime SIPP Company Ltd

SIPP and SSAS provider, Hartley Pensions Ltd has bought the untainted assets of The Lifetime SIPP Company Limited, which went into administration in March.

Hartley has also agreed to administer the tainted SIPPs (where the value of the underlying investment has been eroded) which are held by The Lifetime SIPP Company and will work with those affected consumers including helping them with the FSCS claims process.

Administrators Ian Robert and Ryan Davies of insolvency practitioners Kingston Smith & Partners LLP will continue to work with Hartley to ensure the best possible outcome for those affected consumers.

As with all Hartley Pensions clients, each Lifetime SIPP Company customer will be assigned their own highly qualified pension administrator who can assist them with the transition and answer any queries.

Hartley has invested heavily in technology and will soon be launching a new client portal. The portal offers clients full online access to their SIPP and to other low cost platforms.

Denis McHugh, Hartley’s managing director said, “As a client-focused business, we continue to enhance and automate our offering to consumers in order to provide the best possible service to all clients. We recently upgraded our back office system in partnership with one of the leading pension software providers to further enhance our customer service”.

Ian Robert, joint administrator said, “The sale to Hartley will ensure that consumers get safe and helpful ongoing management of their SIPP. Additionally, the transaction gives creditors the opportunity to recover compensation, where appropriate, through the FSCS in the most effective way possible”.

Joanne Rumley of law firm Foot Anstey advised on legal aspects of the insolvency.