A Solihull-based firm with ties to unsuitable British Steel Pension Scheme (BSPS) transfer advice has been declared in default by the Financial Services Compensation Scheme (FSCS).
The lifeboat fund last week confirmed that Bailey Richards Wealth Management can no longer undertake regulated activities. "It is one of the companies with claims regarding the BSPS," it added. According to the Financial Conduct Authority's (FCA) register, Bailey Richards Wealth Management has been in liquidation since April last year. The register also shows the firm has never traded under any other names. Three individuals - John MacKinnell Wilson, Simon Richards, and Barry Hunt - are listed on the register as having previously worked at the firm in a regulated capacity. Wi...
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