First funds returned to collapsed Beaufort Securities clients via FSCS

3,000 left to transfer

Hannah Godfrey
clock • 1 min read

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...

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

The banks are back: What does this mean for advisers?

The banks are back: What does this mean for advisers?

Banks ‘uniquely positioned’ to provide advice to mass market

Sophia Panayi
clock 24 August 2026 • 6 min read
Social media investment advice leaves investors out of pocket - research

Social media investment advice leaves investors out of pocket - research

Over half who acted on social media financial advice regretted it

Isabel Baxter
clock 21 August 2026 • 3 min read
New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

New sexual harassment duty: Can adviser firms show they've taken 'all reasonable steps'?

'Employers will be expected to take all reasonable steps'

Emily Bradshaw
clock 19 August 2026 • 4 min read