James Hay SIPP (PO-9486)

Ombudsman’s Determination

Outcome

Mr N’s complaint against James Hay 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, James Hay shall pay £1,064.25 into Mr N’s self-invested personal pension (SIPP) bank account.

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

Complaint summary

Mr N complains that James Hay has failed to collect the rent due in relation to a property held in his SIPP.

Mr N says that, as a result of this failure, he has lost the opportunity to recover the outstanding arrears which amount to £5,273 excluding interest.