Claims open as FSCS declares Bromsgrove advice firm in default

Lifeboat fund says claims relate to British Steel pension transfers

clock • 1 min read

Another advice firms has been declared failed by the Financial Services Compensation Scheme (FSCS), opening the door for clients to receive money they had lost as a result of their dealings with it.

FP Consulting - also trading as The Salmon Partnership, RMS Wealth Management, Honeypot Financial Services and Chilworth Financial Management - stopped trading last month. According to the Financial Conduct Authority's (FCA) register, the firm went into liquidation in June 2020. The Bromsgrove-based firm was set up in 2000 and, according to the FSCS, is also one of the companies associated with claims regarding the old, now-collapsed British Steel Pension Scheme (BSPS). Two individuals, Stephen Baker and Joanne Baker, are listed on the FCA register as firm directors. The FSCS to...

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 Pensions

'Scare tactics and jargon' alienating young pension savers

'Scare tactics and jargon' alienating young pension savers

People’s Pension research finds almost half of Gen Z do not engage with their pension

Martin Richmond
clock 02 June 2026 • 1 min read
IFAs warn gender pension gap goes beyond an investment problem

IFAs warn gender pension gap goes beyond an investment problem

‘Much of it is behavioural and structural’

Isabel Baxter
clock 12 May 2026 • 4 min read
Gender pension gap starts at 28 – research

Gender pension gap starts at 28 – research

Gap caused by salary differences and career gaps, AJ Bell finds

Sophia Panayi
clock 11 May 2026 • 3 min read