Three more Lifeboat operations sink

clock

Insolvency experts BDO Stoy Hayward has filed bankruptcy proceedings against three divisions of Lifeboat Financial Group, a year after Legal & General also filed a bankruptcy petition on another division of the intermediary firm.

A spokeswoman for BDO confirmed three brands or firms within the Lifeboat financial adviser group - the regulated Lifeboat Financial Advisers Ltd, and non-regulated Simply Assured Ltd and Simply Assured Direct Ltd – are now in administration, but stressed the holding company is not. This is the second such wind-up of divisions within Lifeboat Financial Group, as IFAonline reported last summer (August 11th, 2003 - L&G files bankruptcy claim against IFA) Legal & General filed a compulsory bankruptcy petition at the High Court in September 2003 against Multi Tie Distribution Network Ltd (pr...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Deal Dive: Regional planning firms make their mark

Deal Dive: Regional planning firms make their mark

Deals announced in Q2 2026

Isabel Baxter
clock 06 August 2026 • 3 min read
The paradox of invisible value: How to ensure clients recognise the power of advice in volatile times

The paradox of invisible value: How to ensure clients recognise the power of advice in volatile times

'Investing is not just a technical exercise; it’s an emotional one'

Kate Rainbow
clock 03 August 2026 • 4 min read
The Platforms Association acquires the UK Platform Awards

The Platforms Association acquires the UK Platform Awards

Clive Waller hands over the awards programme

Isabel Baxter
clock 30 July 2026 • 2 min read