A further 3,000 former clients of collapsed discretionary fund manager Beaufort Securities have been compensated by the Financial Services Compensation Scheme (FSCS), the lifeboat fund has revealed.
The former clients have been transferred to broker The Share Centre and a tranche of assets are being returned to them. According to the FSCS, clients were able to access their transferred money and assets from the morning of 12 November. Any remaining client assets and money still eligible for transfer but not yet transferred to The Share Centre in this cohort will be moved to the relevant nominated brokers. The Share Centre agreed to buy the 15,000-strong client book of the failed discretionary fund manager (DFM) back in August. In September, more than 12,000 Beaufort clients tr...
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