Hornbuckle Mitchell Personal Pension Plan (PO-4322)

Complaint summary

Mr Atkinson complains that Hornbuckle Mitchell Group Ltd (HMGL) failed to complete a transfer of funds between two US dollar (USD) bank accounts held in the SIPP on a timely basis. He says that he has suffered a considerable financial loss as a consequence of the delay because he could not use these funds to purchase US stocks at the end of December 2013.

The complaint should be partly upheld against HMGL because they were responsible for some delays and deprived Mr Atkinson of the opportunity to make investments when he wished.

Summary of the Ombudsman’s determination and reasons

The complaint should be partly upheld against HMGL because they were responsible for some delays and deprived Mr Atkinson of the opportunity to make investments when he wished.