FSCS declares Birmingham-based firm in default over pension advice
The firm is in liquidation
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The firm is in liquidation
Alongside another advice firm
Resulting in £9,769,550 of pension funds being transferred to riskier defined contribution schemes.
Having received 111 claims against it
He had advised 422 customers, 183 were BSPS members
With the FSCS paying out over £8.4m in compensation to customers
With the FSCS paying over £19m to former customers
Advisers will pay £155,000 in compensation
With the FSCS receiving claims relating to the British Steel Pension Scheme
Lifeboat scheme has received five claims related to pension transfers and Sipps
With the FSCS receiving claims in regard to the British Steel Pension Scheme
After both companies were investigated by the FSCS earlier this year