The Financial Service Compensation Scheme (FSCS) is preparing to declare Active Wealth, an advice firm at the heart of the British Steel saga, in default.
A statement on the FSCS website posted on Thursday said the scheme is aware of Active Wealth's voluntary liquidation, and is preparing to declare the firm in default. It added it was "working closely with the Financial Conduct Authority to understand the firm's position". British Steel DB transfer-suspended firm on FCA's radar since 2016 Earlier this week it was revealed that Active Wealth had declared voluntary liquidation. The firm was the first financial advice business to enter the spotlight for working on British Steel pension transfer cases with introducer firm Celtic Wealth ...
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
