The company changed the way it charged some investors the annual ownership fees earlier this year.
Whereas the fee for administering fractional investments was previously deducted from the rental income, it is now charged as a separate fee and deducted from the client’s pension fund.
The Resort Group said this was because “a change in the regulatory requirements” meant clients had to pay for compliance directly to the administrator of the companies in which they were invested.
There has previously been interest from the UK regulator in the investments, many of which are held in Sipps administered by Rowanmoor and London & Colonial.
The Financial Conduct Authority wrote to TRG investors to ask for information on their investments in 2017 and FTAdviser understands that probe is still open. The FCA has declined to comment.
The Financial Services Compensation Scheme, meanwhile, has previously paid out on some TRG claims made against now-defunct advice firm CIP Life & Pensions, but not on others due to issues with valuations.
Rowanmoor, which administers many of the Sipps that hold TRG assets, would not say whether it planned to intervene on behalf of its clients.
But a spokesperson said: “Over recent months we have been working closely with The Resort Group to resolve the situation for and on behalf of our pension members.”