Upheld: Service failures generally complaint against Evelyn Partners Investment Management Services Limited
Financial Ombudsman decision DRN-6120908 of 2026-02-02T00:00:00+00:00. Service failures generally complaint against Evelyn Partners Investment Management Services Limited. Outcome: Upheld.
Decision detail
| Reference | DRN-6120908 |
|---|---|
| Decision date | 2026-02-02T00:00:00+00:00 |
| Firm | Evelyn Partners Investment Management Services Limited |
| Product | Pension |
| Claim type | Service failures generally |
| Outcome | Upheld |
| Remedy | Evelyn Partners must: (1) Pay interest at 8% per year simple on the £5,000 TFC for the period from 9 May 2025 to 18 June 2025 (the date it was actually paid), calculated from 9 May 2025 (when it should have been paid) to the date of settlement; (2) Pay £250 compensation for distress and inconvenience caused; (3) If the £250 is not paid within 28 days of X accepting the final decision, add interest at 8% per year simple from the date of decision to settlement; (4) Provide X with a simple calculation showing how the interest was worked out; (5) Provide a tax deduction certificate if X requests one. |
Summary
X complained that Evelyn Partners unfairly delayed payment of £5,000 tax-free cash from their SIPP by requesting unnecessary information and providing poor service. X had called the firm four times in April 2025 seeking guidance on completing the benefits form, then submitted it with information about two previous small pension withdrawals (below £10,000 each). Evelyn Partners repeatedly requested Lifetime Allowance percentages and crystallisation dates, despite X explaining the pensions were small pots immediately closed and despite internal messages showing the firm understood only tax-free cash figures were required. The ombudsman found the firm, as the expert, should have clarified what was needed when X sought guidance, and should have identified the small pot status during a 24 April 2025 call. Benefits were ultimately paid on 17 June 2025, approximately 40 days later than they should have been. The ombudsman upheld the complaint and ordered compensation of £250 plus interest at 8% per annum on the £5,000 for the period of delay.
The Ombudsman's reasoning
The ombudsman found that while X was required to provide accurate information, Evelyn Partners was the expert and should have clarified what was needed when X sought guidance before submitting the form. The firm missed opportunities to identify that the withdrawals were small pots during the 24 April 2025 call, when X provided clear indicators (amounts below £10,000, plans immediately closed, no full information provided by original providers). The firm continued requesting Lifetime Allowance percentages long after internal messages on 1 May 2025 showed it understood these were not required. The ombudsman concluded that had matters been properly clarified by 1 May 2025, the necessary information could have been obtained before X left the country and benefits paid by 9 May 2025, significantly reducing stress and inconvenience. Once the firm had the correct information, it processed the payment within four working days, demonstrating it was capable of acting promptly.
How this compares
| Group | Decisions | Uphold rate |
|---|---|---|
| Evelyn Partners Investment Management Services Limited, all decisions | 22 | 34% |
| Service failures generally, all decisions | 32,767 | 33% |
| Pension, all decisions | 15,579 | 47% |
Source
Read the original decision on the Financial Ombudsman Service website