EGR Wealth has entered administration after the Financial Conduct Authority restricted the discretionary fund manager’s activities last month.
The London-based firm entered administration on 24 August, with Robert Goodhew and Geoff Bouchier of Kroll Advisory appointed as joint administrators. EGR Wealth provided model portfolio investment services to approved and regulated financial advisers. The FCA said the firm agreed to a voluntary requirement on 24 July restricting the activities it could undertake. EGR Wealth does not hold client money or custody assets. These are held by other regulated firms, meaning the administration does not itself mean clients' underlying investments have become part of the firm's insolvency e...
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
