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British Steel IFA firm enters liquidation

It stopped offering DB transfer advice and suspended its permissions in 2017

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Cardiff-based advice firm Bartholomew Hawkins Ltd has gone into liquidation.

The business advised members of the British Steel Pension Scheme (BSPS).

According to notices on the Financial Conduct Authority (FCA) register and The Gazette, the business entered liquidation on 23 October 2020.

The company will be wound up voluntarily, and Bethan Louise Evans and John Dean Cullen of Menzies have been appointed joint liquidators.

IWP

Bartholomew Hawkins Asset Management, a separate business, was acquired by Independent Wealth Planners (IWP) in 2019 and continues to trade as a wealth management and financial planning firm.

A spokesperson for IWP told International Adviser: “IWP acquired Bartholomew Hawkins Asset Management Ltd in 2019. Bartholomew Hawkins Asset Management Ltd is a separate business from Bartholomew Hawkins Ltd, with which we have no connection.

“Bartholomew Hawkins Asset Management Ltd continues to grow as part of IWP, and we expect to make further announcements about our investments in people and technology for the business in the coming months.”

DB permissions

The liquidation comes two years since Bartholomew Hawkins Ltd lost permissions to carry out defined benefit (DB) transfers.

Bartholomew Hawkins Ltd was the business that carried pension transfer permissions and gave transfer advice. Bartholomew Hawkins Asset Management did not have these permissions.

In 2017, Bartholomew Hawkins Ltd stopped offering DB transfer advice and suspended its permissions, after the firm had conversations with the FCA.

Bartholomew Hawkins Ltd confirmed it had advised members of the BSPS and that the action by the FCA did relate to pension transfer advice given to BSPS members.

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