Adviser firm Economic Financial Solutions, which traded as Torch Wealth Management, has entered administration.
According to an update on the Financial Services Compensation Scheme (FSCS) website, the firm failed on Wednesday (8 January). The FSCS told PA it had not paid out any compensation for Torch Wealth Management yet. Torch Wealth Management began being wound-up on 7 November 2019 and is being handled by administrator firm Sanderling. The firm, which was based in Caerphilly, Wales, fell into administration following several complaints against it made to the Financial Ombudsman Service. The complaints generally centred on an individual transferring their pension to a self-invested pe...
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