The Financial Services Compensation Scheme (FSCS) is open to receiving claims against Swansea-based adviser firm S&M Hughes, which trades as Crescent Financial.
Individuals are now able to submit complaints against the firm - which PA understands advised members of the British Steel Pension Scheme in relation to defined benefit transfers - ahead of a possible declaration of default. Crescent Financial ceased carrying out all regulated activities on 31 May 2019. Portfolio Financial Consultancy, another Swansea-based firm, then bought the client bank of the embattled financial advice business. Echelon Wealthcare managing director and IFA Alastair Rush, who has been instrumental in helping the steelworkers obtain compensation following poor advi...
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