City Private Pension Self-Invested Personal Pension (CAS-69733-Y8D0)

Ombudsman’s Determination

Outcome

I do not uphold Mr R’s complaint and no further action is required by Mattioli Woods. 

Complaint summary

Mr R has complained that Mattioli Woods did not make him aware of its high fees for administering his account in the CPP SIPP. He submits that the illustration he received before setting up his account did not state how much the fees would be, and other fee documents lacked transparency.

He asked to receive an award for Mattioli Woods’ poor behaviour, and for his fees to be reduced. He also wanted a review conducted of Mattioli Woods’ actions.