Curtis Banks SIPP (PO-9974)

Ombudsman’s Determination

Outcome

Mr D’s complaint is upheld and, to put matters right, Curtis Banks should provide redress on the terms set out in its offer to this Office and send Mr D summary statements showing the monetary effect of the redress. Curtis Banks should also pay Mr D £750 for the significant distress and inconvenience he has experienced.

My reasons for reaching this decision are explained in more detail below.

Complaint summary

Mr D has complained that Curtis Banks has provided an incorrect valuation in relation to his ex-wife’s Self-Invested Personal Pension (SIPP).  The valuation was required for a pension sharing order (PSO) following Mr and Mrs D’s divorce.