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Bailey Richards Wealth Management Ltd

Failed 22/02/2023

FRN: 583487

Bailey Richards Wealth Management Ltd was declared in default by the Financial Services Compensation Scheme in February 2023.

It is no longer trading after appointing voluntary liquidators in April 2022. Its entry on the FCA register states it ceased being authorised to provide regulated activities and products on 10th July 2020. 

According to reports in February 2023, the FSCS has received nine claims against the firm. It has so far upheld one claim, which triggered the declaration of default.

British Steel Pension claims

The FSCS confirmed on its website that Bailey Richards Wealth Management Ltd is also one many companies associated with claims regarding the British Steel Pension Scheme (BSPS).

In 2017, thousands of British Steel workers were advised to transfer their defined benefit pension into a defined contribution pension. These are also known as a Personal Pension Plan or a Self-Invested Personal Pension (SIPP).

Sadly, this advice to transfer was unsuitable for thousands of BSPS members who are now seeking compensation.

Making a claim against Bailey Richards Wealth Management Ltd

Eligible claims against Bailey Richards Wealth Management Ltd will now be processed by the Financial Services Compensation Scheme (FSCS)

You can submit a claim yourself, for free with the FSCS.

Here’s some links to help you …

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


Using our service to handle your claim

We are specialists in mis-sold pensions and investments claims.  Our claims service includes a full investigation & management of your claim.

Our success fee is calculated at 15%+VAT (total 18%) of the gross amount of compensation offered to you and is capped at £7,500 + VAT.

If we are unsuccessful in securing an offer of compensation for you, you will not have to pay our success fee.


Check if you have a case with our free initial assessment

If you think you may have been affected by pension mis-selling and would like some help, arrange an initial assessment with one of our friendly experts.

We’ll tell you if we think you have a case against Broadgate Financial Management and what your options are if you do. It’s free, confidential and there’s no obligation to use our claims service.

Fill in the form below 

Key Facts

Bailey Richards Wealth Management Ltd was declared in default by the FSCS in February 2023 following claims made against the firm

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.