Pembrokeshire-based 1 Stop Financial Services has cancelled its permissions to carry on regulated activities and closed to new business.
In a letter to a client dated 16 January 2013, seen by IFAonline, the firm states it has "commercially decided that [it] will no longer be authorised and regulated by the Financial Services Authority (FSA) and has decided to close to new business and withdrawn [its] permissions".
The firm, which will no longer be able to offer ongoing services, said in the letter that it will be sourcing an alternative company to advise current clients.
1 Stop Financial has not had permission to carry on regulated activities since 5pm on 10 November, according to a note on the FSA register.
From the same date the firm must not, without the prior consent of the FSA, in any way dispose of, deal with or diminish the value of any of its assets.
This requirement does not prohibit the firm from dealing with or disposing of any of its assets in the ordinary and proper course of business.
1 Stop Financial did not respond to a request for comment at the time of writing.
An ambitious objective
'Something completely new'
'Illusion of control'
Reasons to be cheerful
Total investment reaches £9m