Curtis Banks Universal SIPP (CAS-38697-T1F1)

Ombudsman’s Determination

Outcome

Mrs Y’s complaint is upheld, and to put matters right, Curtis Banks shall pay Mrs Y any additional costs that she incurred due to being required to open a new SIPP and for the late payment of service charges. Curtis Banks shall also pay Mrs Y £500 for the significant distress and inconvenience caused to her.

Complaint summary

Mrs Y complained about the following aspects of service that she received from Curtis Banks after the death of her husband:-

• Curtis Banks waited almost 15 months before chasing her for a response to a letter asking her to send her husband’s death certificate, which she had already sent soon after her husband’s death.
• As Curtis Banks would not allow the name of her husband’s SIPP to be changed to her name, she was required to transfer the asset in her husband’s SIPP, a commercial property (the Property), to a new SIPP. This delayed the process of claiming benefits and caused her to incur additional fees.
• Curtis Banks recorded an incorrect valuation for the Property, and on a number of occasions did not collect on time the Property’s regular service charge (the Service Charge) from the Property’s tenant.

Mrs Y wanted to be given an award for the distress and inconvenience Curtis Banks has caused her.