Fidelity FundsNetwork SIPP (PO-22729)
Ombudsman’s Determination
Complaint summary
Mr L has complained that Fidelity delayed the transfer of the SIPP to A J Bell unnecessarily and that this has resulted in a financial loss.
Summary of the Ombudsman’s decision and reasons
The complaint is not upheld against Fidelity as the transfer request should have been submitted to FundsNetwork. Although Fidelity has provided some conflicting information over the transfer process, I do not find it is sufficient to warrant an award to Mr L.
I do not find that Fidelity can be held responsible for delaying the transfer between 4 and 21 December 2017, as it was Mr L’s responsibility to advise A J Bell that the SIPP was administered by Standard Life and to address the transfer request to FundsNetwork. Following Mr L’s intervention on 21 December 2017, Fidelity completed the transfer by 15 January 2018, which I do not find unreasonable allowing for the Christmas and New Year period.
View determination
DownloadRelated decisions
- DHL Group Retirement Plan (CAS-91428-G6W2)Complainant: Mr DRespondent: DHL Trustees Limited
DHL Pensions
Outcome: Not upheldComplaint Topic: Transfers: generalRef: CAS-91428-G6W2Date: - Rolls Royce UK Pensions Fund (CAS-47515-B3V5)Complainant: Mr ARespondent: Rolls Royce PLCOutcome: Not upheldComplaint Topic: Transfers: generalRef: CAS-47515-B3V5Date: