I had requested that my Vanguard SIPP is transfered to Freetrade and Vanguard blocked it over FCA concerns.
It seems that there is an FCA restriction on Gaudi.
It seems (from chat messages from Freetrade) that this is to do with the SIPP provider to Freetrade employees, the restrictions are with Gaudi Trusee Limited. Not the SIPP provider to a Freetrade Customer…though they are both a “Gaudi”
I am awaiting information as to whether these entities are at all related.
This has caused second thoughts for me and is worth the community knowing - it is not he first time Gaudi are questioned.
It’s worth noting in the other cases it isn’t gaudi, it was a white label customer or other provider and gaudi took over the SIPPs accounts. The website linked misreported this, and seems to have caused people to believe it was gaudi in the wrong.
For clarity I assume you mean a different entity in relation to their company structure? I.e gaudi trustees limited is still part of the gaudi structure. Just the FCA restriction applies to the gaudi regulated services company its self not the assets under its management under gaudi trustees limited?
I.e the same setup as Freetrade limited vs Freetrade nominees limited?
No that’s broadly correct. We have been in close contact with Gaudi regarding this and we have determined that their ongoing discussions with the FCA do not impact their ability to administer our SIPP. Obviously this is something we monitor quite carefully and we will take action to protect our customers if needed.