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Abbey Lane Financial Associates Ltd

Failed 25/03/2024

FRN: 649170

Abbey Lane Financial Associates Ltd was declared in default (failed) by the FSCS in March 2024.

A year earlier, in March 2023, Abbey Lane Financial Associates entered liquidation and was placed under investigation by FSCS.

The FSCS have since confirmed that it is associated with British Steel Pension Scheme (BSPS) claims.

FCA notice Abbey Lane Financial Associates

In February 2023 the FCA issued a first supervisory notice against Abbey Lane Financial Associates for making unsolicited settlement offers.

According to the FCA notice, the firm had made unsolicited settlement offers of £100 to clients who were BSPS members. It further alleged that the firm had made offers to 40 out of 49 (82%) of its BSPS clients.

The FSCS told FT Adviser in March it had received 44 claims against Abbey Lane relating to pension transfer advice.

So far one claim has been rejected and one has been upheld, triggering the default declaration.

The remaining 42 claims are still in progress with the FSCS.

Abbey Lane Financial Associates – FSCS Claims

The FSCS is now considering customers’ claims against Abbey Lane Financial Associates.

There are limits to how much compensation FSCS can award which is currently capped at £85k per eligible person, per firm. The amount it can award will also depend on when and how you were mis-sold.

You can submit a claim yourself for free with the FSCS

Here’s some useful links to get you started …

Financial Services Compensation Scheme
FSCS Making a claim
FSCS Contact Us

Money Helper
How to spot a pension scam

Money & Pensions Service
How MaPS can help those who have been scammed on their pensions

Our Initial Assessment could help you

If you’re worried about pension mis-selling and would like to know more about making a claim? Our initial assessment could help!

We can tell you if we think you have a case and what your options are if you do.

It’s completely confidential and there’s absolutely no obligation to use our claims service to make a claim. You can make a claim yourself (see information above).

Simply fill in the form below to arrange or call and have a chat today!

Key Facts

1
The Financial Services Compensation Scheme is now considering customers’ claims against  this firm after declaring it in default
2
The FSCS confirmed it is one of the firms associated with claims regarding the British Steel Pension Scheme (BSPS).

We win more than 9 out of 10 claims

The cost of our service is 15% + VAT on the total monies awarded for a successful claim. Our cost is also priced capped at one of the lowest rates.

Important Information!

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.