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

PIMFA warns 'further clarity' needed in FCA's proposed SIPP changes

PIMFA warns 'further clarity' needed in FCA's proposed SIPP changes

Consultation closes today

Sophia Panayi
clock 24 August 2026 • 3 min read
Top recommended personal pensions and SIPPs in H1 2026

Top recommended personal pensions and SIPPs in H1 2026

Royal London and Aviva take top spots

Isabel Baxter
clock 12 August 2026 • 2 min read
DWP publishes updated roadmap for workplace pensions

DWP publishes updated roadmap for workplace pensions

Government sets out an updated plan to implement workplace pension reform

Jonathan Stapleton
clock 13 July 2026 • 2 min read