FSCS names three advice firms in default over pension transfers

Two out of three failed firms linked to British Steel transfers

Ayesha Venkataraman
clock • 3 min read

The Financial Services Compensation Scheme (FSCS) has declared Vintage Investment Services, Broadgate Financial Management and Braemar Wealth Management NW in default with claims to all three firms linked to pension transfer advice.

One of the three failed advice firms, Vintage Investment Services, trading Vintage, Vintage Protect, Vintage Mortgages, applied to change its legal status on 10 December 2018, according to the Financial Conduct Authority (FCA) register. The firm has been a PSD (Payment Services Directive) Agent since 7 March 2019, according to the FCA register. The firm's co-partner, Paul Adams also holds compliance oversight and money laundering reporting roles. The FSCS told Professional Adviser it has received 65 claims from former customers of the firm, all of which related to pension transfer ...

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