The Financial Services Compensation Scheme (‘FSCS’) is accepting claims against Consumer Wealth Limited, following the firm going into liquidation earlier this year.
As of June 2019, claims against Consumer Wealth Limited are now being progressed to assessment by the FSCS’s claims processing team.
It is our understanding that Consumer Wealth Limited was responsible for the following advice:
- Advice to transfer an existing pension into a Self-Invested Personal Pension (‘SIPP’);
- Advice to invest in non-standard, highly speculative and risky investments. In particular, it has come to our attention that Consumer Wealth Limited was responsible for advising some of its clients to invest in non-standard assets through the Greyfriars Asset Management Portfolio Six (P6) investment.
