Friday, 27 March 2020 11:34
FSCS declares GPC and 14 other firms in default
The Financial Services Compensation Scheme (FSCS) has declared 15 failed regulated firms in default during February 2020 including SIPP firm GPC.
The defaults open the door to investors to claim compensation.
The failures include several IFA and wealth management firms and GPC SIPP (formerly Guardian Pension Consultants) which managed thousand of SIPP and SSAS schemes with a total value of £130m.
The joint administrators of GPC SIPP sold the business to Hartley Pensions last year. The deal included the transfer of the SIPPs and SSASs held via the trustee company, Guardian Pension Trustees Limited.
GPC administered around 3,200 SIPPs and 50 SSASs, holding over 8,000 property assets and total investments worth around £130m.
Declarations by FSCS between 1 and 29 February 2020:
Greater London
Hector McLean Financial Consultants, Barry House, 20-22 Worple Road, Wimbledon, London, SW19 4DH
N.J Associates, Manor House, 13 High St, Hampton, Middlesex, TW12 2SA
East Midlands
Knight Finance (European) Limited, 28 Carlton Avenue, Worksop, Nottinghamshire, S81 7JZ
Intuitive Financial Associates LLP, The Cornerhouse, Robey Close, Linby, Nottingham, NG15 8AA
West Midlands
Prime Mortgage Brokers Limited, 7 Upper High Street, Cradley Heath, West Midlands, B64 5HX
South East
Imperious Capital LLP, 17 Cosgrove Road, Old Stratford, Milton Keynes, MK19 6AG
Totus Capital Limited formerly STG Financial Services Limited t/a Totus Wealth Matters, Sovereign Court, 207 Witan Gate, Milton Keynes, MK92HP
PNG Enfield Limited, High Street, Waltham Cross, Hertfordshire, EN87BT
North East
Asset Independent Financial Advisors Limited t/a Asset IFA, Asset Independent Mortgages, Home Estate, West Court, Hesslewood Hall, Ferriby Road, Hessle, North Humberside, HU130LH
WJR Wealth Management Limited formerly Walker Johnston Robinson Limited, 11 Austin Boulevard, 9 Woolmans Close, Sunderland, SR52AL
North West
County Motors (Carlisle) Limited t/a Eden Commercial Services/Express Factors, Fairview House, Carlisle, Cumbria, CA1 1HP
Serenus Consulting Limited, 3 Portal Business Park, Eaton Lane, Eaton, Tarporley, Cheshire, CW69DL
Release Money Limited formerly Release Finance Limited, Release Finance Ltd, Bridge House, Bury, Lancashire, BL9 7HT
GPC SIPP Ltd formerly Guardian Pension Consultants Limited, Guardian House, Capricorn Park, Blakewater Road, Blackburn, Lancashire, BB15QR
Republic of Ireland
CBL Insurance Europe DAC, c/o Allied Risk Management Limited, 13 Fitzwilliam Street Upper, Dublin 2.
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