Financial advice and investment firm LCM Family has formally entered administration after previously agreeing to a voluntary requirement with the Financial Conduct Authority.
The firm, formerly known as LCM Wealth Management, appointed Louise Longley and Gary Shankland of Begbies Traynor Group as joint administrators yesterday (28 April), who will now take control of LCM's operations. LCM operated as a dual-regulated business, authorised by the FCA to provide financial advice and investment services, while also being overseen by the Solicitors Regulation Authority (SRA) for its legal services arm. The firm had already been under regulatory restriction prior to entering administration. On 14 April this year, LCM agreed to a voluntary requirement with the FC...
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