Wealth manager Dolfin Financial collapses after FCA probe

Smith & Williamson appointed as special administrator

Pedro Gonçalves
clock • 1 min read

Wealth manager Dolfin Financial has entered special administration, after the Financial Conduct Authority (FCA) placed restrictions on its activities.

Smith & Williamson was appointed as special administrator for Dolfin Financial, following previous FCA restrictions imposed on the firm. At the time of its collapse, Dolfin had £120m of client money and £1.3bn of custody assets on its books. It provided investment management, investment advisory, execution-only and custody services to a range of clients. On 12 March 2021 the FCA imposed restrictions on Dolfin's ability to conduct regulated activities. Since then, the board have been attempting to wind down the business and, subject to consent from the FCA, transfer client monies and a...

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

Advisers: Are you even taking your own advice?

Advisers: Are you even taking your own advice?

Exploring the expenditure consolidation conversation

Nick Ryan
clock 25 March 2026 • 4 min read
CISI welcomes 76 Certified financial planners

CISI welcomes 76 Certified financial planners

Number of UK CFP professionals continues to rise

Sophia Panayi
clock 24 March 2026 • 1 min read
'Nobody is big enough not to be bought'

'Nobody is big enough not to be bought'

Roderic Rennison on the future of deals in the advice industry

Isabel Baxter
clock 20 March 2026 • 1 min read