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FSCS declares two British Steel adviser firms in default


FSCS declares two British Steel adviser firms in default
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Nine adviser firms in total
The Financial Services Compensation Scheme (FSCS) has declared nine financial advice firms in default in March, two of which advised on British Steel transfers.
Between 1 and 31 March, the lifeboat fund declared a total of 11 firms in default, nine of which were financial advice firms. ....

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IWP rebrands Bartholomew Hawkins Asset Management


2
nd February 2021
1:27 pm
A wealth manager that was part of a group which faced claims over British Steel advice has rebranded from Bartholomew Hawkins Asset Management to Maven Wealth Management Limited.
Bartholomew Hawkins Group was acquired by Independent Wealth Planners UK in August 2019 after the FCA approved the change of control.
The Bartholomew Hawkins Group previously had two subsidiary firms – advice firm Bartholomew Hawkins Limited and wealth manager Bartholomew Hawkins Asset Management.
Bartholomew Hawkins Limited went into liquidation on 23 October 2020.
In December 2017, the advice firm BHL ceased all regulated activities relating to defined benefit pension transfers. The business had previously given advice to members of the British Steel Pension Scheme. ....

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FCA urges clients of collapsed British Steel firm to consider claims


25
th January 2021
7:57 am
The FCA has written to clients of collapsed British Steel advice firm Bartholomew Hawkins urging them to check if they have a claim for unsuitable advice against the firm.
A letter seen by
Money Marketing dated 10 December 2020 is encouraging the individual to act to ensure they are fully compensated and have the correct amount of money for their retirement.
The letter reads: “In 2019, a review was commissioned by the FCA into defined benefit transfer advice given to people in relation to the transfer of their DB pension.
“As part of the review, the FCA assessed a sample of the DB transfer advice provided by Bartholomew Hawkins. The FCA findings are sufficiently concerning that you are being contacted directly to encourage you to act.” ....

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The Morning Briefing: DB transfer drama and performance pressure


25
th January 2021
8:50 am
Good morning and welcome to your Morning Briefing for Monday, 25 January, 2021. To get this in your inbox every morning click here.
DB Transfer Drama Continues
For those looking for a light at the end of the defined benefit transfer tunnel, we may be waiting a while yet I’m afraid. Not content with seeing a £1bn Financial Services Compensation Scheme bill drop last week, it appears the FCA is now in on the redress act too.
Money Marketing has been made aware that letters are being sent by the watchdog to former clients of collapsed IFA Bartholomew Hawkins. The FCA has reviewed a sample of files, it says, and investors are being urged to check whether they are entitled to compensation. ....

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