Former clients of collapsed discretionary fund manager Beaufort Securities have been transferred to a new broker, while the first set of cash and assets has been returned to some clients.
More than 12,000 clients of Beaufort Securities have been transferred to The Share Centre, while the first sets of cash and assets has also been transferred. According to the Financial Services Compensation Scheme (FSCS), any remaining eligible client assets and client money not transferred to The Share Centre in the first cohort will be moved to the relevant nominated broker in later tranches. It expected "the vast majority" of individual Beaufort clients would not to suffer any loss. AFH buys client portfolios of Beaufort Securities' Colwyn Bay office The Share Centre agreed to b...
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