The FSCS have given pension and investment advisory firms a declaration of default
A report by the Financial Services Compensation Scheme (FSCS) has compiled a list of pension and investment advisory firms they have declared as legally being ‘in default’.
This definition allows consumers to make claims to the FSCS for compensation if they believe they have been given improper advice regarding a financial investment by a firm declared in default.
A total of 28 firms have received a declaration of default since May 2015, with the total of firms for the year being close to 100.
The latest batch of firms listed by the FSCS is as follows:
CPC Wealth Management Ltd
Financial Professional Ltd
Legacy Wealth Management Ltd
Montpelier Financial Services
Norcrest Financial Services Ltd
Archer Bramley Ltd
Asquith Hart Financial Management LLP
Hewitt & Harris Wealth Management Solutions Ltd
Matthew Round & Co.
Planned Exit Ltd, Presto Planning Ltd
Avidity Wealth Management Ltd
CP Asset Management Ltd
Davinci Wealth Management Ltd
First Action Finance Ltd
Hightree Financial Services Ltd
Michael Mallen Associates
Newman Wright Financial Advisors
Provision Financial Consultants
Select Financial Solutions Ltd
The Joseph Bevan Partnership
WPLC Financial Consultants Ltd
Crisp Financial Services Ltd
Central Investment Services Ltd
E David Roberts & Co. Ltd
The Mortgage Market Ltd
Cases of financial mis-selling
All of these firms have been listed due to not being able to meet compensations claims for providing improper financial advice to individuals – advice which those individuals allege was not suitable or appropriate for them. Cases range from clear instances of fraud to failing to provide full and complete information to clients.
If you believe you have received improper advice from an advisory firm not on the list above, you can check to see if the firm has received a declaration of default at the FSCS website.
“This announcement from the FSCS shows that there are still firms out there, giving out the wrong sort of advice to clients. Unfortunately we often see clients who have had lost out through investments that have gone badly wrong as a result of poor financial advice. If you think that this might be the case for you or your family, please seek expert advice as soon as possible”
Peter McKenna, Partner
If you have lost out financially as a result of inadequate financial advice, TLWs financial mis-selling team may be able to get your money back. This applies even if the firm who advised you has now gone out of business. Our solicitors are here to help on a no-win no-fee basis.