AJ Bell Youinvest SIPP A84327S (PO-28826)

Ombudsman’s Determination

Outcome

I do not uphold Mr N’s complaint and no further action is required by AJ Bell.

Complaint summary

Mr N has complained that:-

• AJ Bell failed to exercise a duty of care and, as a result, he has incurred a large tax charge that could have been avoided.

• AJ Bell provided misleading figures regarding his Lifetime Allowance (LTA)

• AJ Bell’s complaints procedure was not impartial.

Mr N says he has incurred an unwarranted tax charge of £23,156 which AJ Bell wants him to pay from his SIPP. He argues that AJ Bell should pay this charge in its entirety as it has made mistakes and mishandled his affairs.