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

Reform for modern times: A fairer future for families

Reform for modern times: A fairer future for families

'Could reshape the legal and financial consequences of relationship breakdown'

Julia Peake
clock 17 June 2026 • 4 min read
Carla Brown: PFS will reassert itself as voice of the profession in 2026

Carla Brown: PFS will reassert itself as voice of the profession in 2026

PFS president and chair on building trust

Carla Brown
clock 16 June 2026 • 4 min read
Advisers need 'robust' scam protections as investment fraud losses hit £221m

Advisers need 'robust' scam protections as investment fraud losses hit £221m

Investment fraud up 40% year-on-year

Sophia Panayi
clock 15 June 2026 • 2 min read