FSCS declares Essex-based Pacific IFA failed over multiple SIPP cases

The lifeboat fund has received nine claims about Pacific IFA

Sahar Nazir
clock • 1 min read

Essex-based firm Pacific IFA has been declared in default by the Financial Services Compensation Scheme.

The financial advice firm has not been authorised by the Financial Conduct Authority (FCA) since November 2020. The FSCS said Pacific IFA is no longer trading and claims can be made against the firm. According to Companies House, there is an active proposal to have the company struck off. The FSCS told Professional Adviser that it has received nine claims in total about Pacific IFA. Seven claims are in progress, with one upheld and one rejected. "The claims are for self-invested personal pensions and other pension advice, not the British Steel Pension Scheme (BSPS)," the FSCS...

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