FSCS outs two firms it is investigating over British Steel transfers

Green Gem Financial and Wealthmasters Financial Management

Hope William-Smith
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) is investigating Wealthmasters Financial Management and Green Gem Financial which have claims against them relating to British Steel Pension Scheme (BSPS) transfers.

According to the Financial Conduct Authority (FCA) register, Bristol-based Wealthmasters has been in liquidation since February. It was also trading under TT Wealth, Seymour Financial, and Ambrose Clayton Wealth Management and had seven other previous trading names it used over the years after first gaining FCA authorisation in 2011. Green Gem, which is based in Birmingham and was authorised in 2004, went into liquidation in November. Redress in action Redress for members of the old BSPS who transferred the defined benefit pensions into less lucrative defined contribution or self...

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