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

FCA plans to ensure liquidity mismatches do not 'threaten financial stability'

FCA plans to ensure liquidity mismatches do not 'threaten financial stability'

Although good practice exists

Alex Sebastian
clock 09 December 2025 • 2 min read
Bridging the gulf between education and pursuing a career in advice

Bridging the gulf between education and pursuing a career in advice

'There's a pressing need for fresh infusions of young talent into the advice sector'

Steve Nelson
clock 09 December 2025 • 4 min read
Why the path to financial advice isn't necessarily narrow

Why the path to financial advice isn't necessarily narrow

Advice offers a fantastic opportunity to set your own parameters for a fulfilling work-life balance

Roger Brosch
clock 09 December 2025 • 4 min read