Moving SIPP from Standard Life

Hi, newbie here. I'm trying to move my SIPP from Standard Life to HL but have hit a snag. By the way the IFA has proven to be useless and this has been going on since Feb 2020.

Most of my pension pot is now in cash but 1 fund - Maples Fund Services Cayman) Ltd Assured Fund Sterling Class B - remains. Apparently this company is in Administration - although internet search does not confirm - and SL state that they cannot make the transfer to HL without this fund being sold.

Has anyone else had this problem, and is there a way around it? Any suggestions gratefully received. Thanks.


  • dunstonhdunstonh Forumite
    112.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    If a fund is unable to be traded then it becomes an illiquid asset in run down.   It can take a decade or two for obscure illiquid funds to be unwound.

    If this fund was a result of a recommendation then you should complain.    Most complaints about illiquid assets under advice tend to succeed unless it is very small amounts (i.e. no more than 5%).
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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