FSCS declares three financial advisory firms in default

Latest batch of failed firms revealed by lifeboat fund

Jenna Brown
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) has declared three advice firms in default today (25 March).

Notices on the FSCS website said Abbey Lane Financial Associates, Aqua Financial Services (formerly Aqua IFA) and Fresh Financial Solutions had all officially failed. The FSCS said Birmingham-based Abbey Lane Financial Associates – which had advised on British Steel pensions transfers – entered liquidation in March and was under investigation. It said it was now considering claims against the firm.  The FSCS said Abbey Lane Financial Associates had garnered 44 claims linked to pension transfer advice, one was rejected while another was upheld, triggering its default. The other 42 are ...

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