Custodian Wealth was an FCA-authorised SIPP operator that provided services to retail investors across a range of investment types. Some clients were advised to hold non-standard or illiquid investments within their Custodian Wealth SIPPs. If you suffered losses in a Custodian Wealth SIPP following unsuitable advice, you may have a claim.
Custodian Wealth was an FCA-regulated SIPP operator that permitted clients to hold a range of investment types within their pension products. Some clients were introduced via IFA firms who recommended non-standard assets — including alternative investments, overseas property schemes, and similar products that carried high risk and limited liquidity.
The FCA's ongoing supervisory work in the SIPP sector has identified a pattern of operators accepting non-standard assets without adequate due diligence. Case law — notably Berkeley Burke [2018], Adams v Carey Pensions [2020], and Fletcher [2024] EWCA Civ 541 — has established that SIPP operators have active obligations to assess the suitability of assets they permit within their products.
If you held a Custodian Wealth SIPP containing non-standard investments recommended by an IFA or pension introducer, Redress Advisory can assess whether you have viable claims against the adviser, the operator, or both.
The correct route depends on whether the firm is still active, the nature of your loss, and whether FSCS compensation has already been paid on related adviser claims.
Check Custodian Wealth's current FCA registration status and, if the firm is still active, submit a formal DISP complaint. If the firm has entered administration or been declared in default, proceed to Routes 3 or 4.
Check FCA Register firstIf the firm rejects your complaint, escalate to FOS. FOS has jurisdiction over both adviser suitability and operator due diligence in SIPP cases.
FOS escalationIf Custodian Wealth or the IFA who advised you has been declared in default by the FSCS, compensation claims of up to £85,000 per eligible person per firm are available.
If firm in defaultFor large losses, civil proceedings against surviving parties can pursue uncapped recovery under the SIPP operator liability framework confirmed in Fletcher [2024].
Uncapped recoveryThe legal framework governing SIPP operator liability has been substantially clarified by two Court of Appeal decisions. Options UK Personal Pensions LLP v Fletcher [2024] EWCA Civ 541 confirmed that SIPP operators owe active due diligence duties and may be liable where they accept unsuitable non-standard assets into client SIPPs without proper assessment.
Adams v Carey Pensions UK LLP [2020] (FSMA s.27) established that where a SIPP was set up through an unauthorised introducer, the contract may be voidable, enabling full restitution of invested funds regardless of the FSCS cap.
In parallel, Berkeley Burke SIPP Administration Ltd v Financial Ombudsman Service [2018] EWHC 2368 (Admin) confirmed that FOS has jurisdiction to make awards requiring SIPP operators to compensate clients for due diligence failures — and that courts will not readily overturn such awards on judicial review.
SIPP operator claims are subject to the same DISP and Limitation Act deadlines as adviser claims. FSCS claims must also meet prescribed eligibility windows.
DISP: six years from advice or three years from discovery. FSCS: separate eligibility windows. Civil litigation: Limitation Act provisions. See redressadvisory.com/time-limits.
Redress Advisory assesses your position across all four routes and connects you with an SRA-regulated solicitor at no upfront cost.
Begin Your AssessmentYou do not need to use a claims management company to pursue a pension mis-selling complaint. You can complain directly to the financial firm, escalate to the Financial Ombudsman Service (FOS), apply to the Financial Services Compensation Scheme (FSCS), or instruct a solicitor independently — all free of charge. Using Redress Advisory does not improve the likelihood of success compared to pursuing a claim yourself, and our fee will reduce any compensation you receive.
Redress Advisory Ltd (Company No. 17295681) is a claims management company. Regulated legal work is carried out by our Operating SRA Partner solicitor firms. We are not a firm of solicitors and we do not provide legal advice.
The information on this page is for general informational purposes only. It does not constitute financial, legal, or claims management advice. Individual outcomes depend on the specific facts of each case. Historical outcomes in related cases are not a guarantee of results in your case.
FOS: 0800 023 4567 | FSCS: 0800 678 1100 | FCA Register: register.fca.org.uk