Established in 1992, Cardiff based advice firm Grosvenor Butterworth (Financial Services) Limited, closed its doors in 2018.
This came after the Financial Conduct Authority said recommendations they had given to clients to invest in the Discretionary Fund Manager Beaufort Securities, were “unsatisfactory”.
Even Beaufort Securities themselves expressed concern. Reports at the time claimed they had sent letters to their clients advising them to seek advice. Especially regarding the suitability of the recommendations made to invest with Beaufort and if they had grounds to make a compensation claim.
The company were initially placed under a section 166 review. This meant they had to have the supervision of a third party to review its practises regarding certain regulated activities, which included advising on pension transfers.
In 2018 the FCA went on to stop Grosvenor Butterworth’s regulated activity altogether and they are no longer authorised. The company went into administration in 2019.
Quite often pension mis-selling happens as a result of poor or negligent financial advice. A regulated adviser or company has a duty to ensure the recommendations they make are suitable to your needs and risk profile.
If they didn’t this could be mis-selling and you may be able to make a claim for compensation.
If you were advised by Grosvenor Butterworth and you have any concerns about the advice you received we may be able to help.
Or we offer a free initial check to see if you may have been mis-sold. With a simple chat with one of our team we can briefly assess your circumstances and tell you if we think you may have a case. There’s no obligation to use our service.
You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.
It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.