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...

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 Companies

NextGen Planners becomes Plannex

NextGen Planners becomes Plannex

‘We have outgrown the name NextGen’

Isabel Baxter
clock 10 July 2025 • 2 min read
Chase de Vere's revenue hits £118.6m driven by acquisitions and client referrals

Chase de Vere's revenue hits £118.6m driven by acquisitions and client referrals

Profit before tax reaches £31.9m in 2024

Isabel Baxter
clock 08 July 2025 • 2 min read
FE Fundinfo integrates portfolio analysis and cashflow planning solutions

FE Fundinfo integrates portfolio analysis and cashflow planning solutions

FE Analytics and FE CashCalc integrated on Nexus platform

Isabel Baxter
clock 07 July 2025 • 1 min read