Wealth management firm Pello Capital has been declared failed by the Financial Services Compensation Scheme (FSCS).
In an update posted on 26 November, the FSCS said it is now accepting claims against Pello Capital. FSCS confirmed to Professional Adviser that it has received 93 claims so far relating to pensions advice. One claim has now been upheld triggering the default declaration. The London-based firm was authorised by the Financial Conduct Authority from 5 February 2007 until 15 November 2022. Pello Capital offered services including pensions, stockbroking, online share dealing, corporate broking, and foreign exchange trading. "FSCS can now pay compensation to customers if they have a val...
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