Self-invested personal pension provider Carey Pensions has tumbled into the red under the weight of complaints against it.
Its accounts for 2016 show the Sipp firm slumped into a £153,784 loss last year, reversing a a profit of £166,552 the year before.
The Sipp provider linked the turnaround in its fortunes to “a number of complaints and legal cases relating to some historic business which is now being run down”.
Elsewhere the accounts show the company set aside £70,800 as provisions for liabilities and charges last year. None was set aside the year before.
Turnover at the company was also down, at £1.64m last year, compared to £1.8m in 2015.
laura.miller@ft.com
