AJ Bell Youinvest SIPP (PO-21419)

Ombudsman’s Determination

Outcome

Mr E’s complaint against AJ Bell is partly upheld, but there is a part of the complaint I do not agree with. To put matters right, for the part that is upheld, AJ Bell shall pay Mr E £500 for the significant distress and inconvenience caused.

Complaint summary

Mr E has raised a series of concerns about the way AJ Bell has administered the SIPP, including:-

• • The misreporting of investment valuations.
  • The calculation of his maximum income.
  • The taxation of income payments.
  • The method of calculating the SIPP’s crystallised and uncrystallised fund split.