The Financial Services Compensation Scheme (FSCS) has declared two financial advice firms in default, one of which advised on British Steel transfers.
One of the two failed advice firms, John Dyer (Life & Pensions) Ltd, trading as John Dyer Financial Management, was ordered to no longer provide regulated activities and products by the Financial Conduct Authority (FCA) from 11 January 2019. The Swansea-based firm entered voluntary liquidation, with BPO Insolvency appointed to deal with the case on 17 January 2019. The FSCS told Professional Adviser it has received 41 claims thus far from former customers of John Dyer, all of which related to pension transfer advice, including some that involved advising British Steel workers to trans...
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