British Steel adviser Active Wealth enters liquidation

Accused of poor transfer advice

Hannah Godfrey
clock • 1 min read

Active Wealth UK, a firm criticised for the advice it gave to British Steelworkers on transferring their pensions, has entered voluntarily liquidation.

A notice posted on The Gazette on 12 February said the company would be "wound up voluntarily" and that the firm is required to give proof of its debts by 30 March. Active Wealth was the first financial advice firm to enter the spotlight for working on British Steel transfer cases with introducer firm Celtic Wealth Management. It voluntarily suspended its pension advice permissions after a visit from the Financial Conduct Authority. The directors of the two firms, Darren Reynolds at Active Wealth and Clive Howells at Celtic Wealth, were invited to a Work and Pensions Committee hearing...

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