The Financial Services Compensation Scheme (FSCS) has confirmed that Leeds-based advice firm IFA Ltd, which traded as Cowburn Milner & Company, has been declared in default, and AXG Advice, formerly the Salmon Financial Partnership, has been declared as failed.
According to the Financial Conduct Authority (FCA) register, IFA Ltd has not held authorisation since February 2013. The default was declared by the FSCS on Thursday (1 May). The FSCS told Professional Adviser that so far it has received and upheld one claim against IFA Ltd. The complaint related to pension advice, although it was not connected to British Steel. The lifeboat fund said in its update: "IFA Ltd, trading as Cowburn Milner & Company Ltd is no longer trading, so you may be able to make a claim against them." It added: "We'll need various documents to consider your claim....
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
