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Cavendish Incorporated Ltd

Failed 12/10/2023

FRN: 942176

Did you receive investment advice from Cavendish Incorporated Ltd?

Cavendish Incorporated Ltd was declared in default by the Financial Services Compensation Scheme (FSCS) in October 2023.

According to reports, the FSCS has so far upheld one of seven complaints it has received since it began investigating the firm in May 2022. This triggered the declaration of default and means the FSCS can now pay compensation to customers with valid claims.

The FSCS says that customers have alleged they were given unsuitable investment advice by Cavendish and its former Appointed Representative Cottesmore Associates Ltd.

However, neither Cavendish nor Cottesmore have ever ‘been permitted by the Financial Conduct Authority (FCA) to provide regulated advice on investments.’

 

FCA consumer warning Cavendish and Cottesmore

In August 2021 the Financial Conduct Authority (FCA) issued a consumer warning regarding Cavendish Incorporated and Cottesmore Associates Ltd.

Cottesmore Associates Ltd were Appointed Representatives of Cavendish between February and May 2021.

The FCA said: “We are aware that consumers may have invested substantial funds in bonds or loan notes issued by Cavendish or through its former appointed representative, Cottesmore Associates Limited.

“In general, a business does not have to be regulated by the FCA to raise funds by issuing shares or debt securities (such as bonds or loan notes). However, any investment services provided by firms regarding these investments are likely to be regulated, and subject to our rules.

“It appears Cavendish and Cottesmore have carried out investment-related activities with consumers. Neither Cavendish nor Cottesmore have ever been permitted by the FCA to provide regulated investment services.”

The Regulator also imposed requirements on the firm preventing it from carrying out regulated activity without its prior consent.

The reason for this, according to the FCA was down to concerns that “Cavendish and Cottesmore’s actions may pose significant risks to consumers due to the potential lack of regulatory protection that would otherwise be afforded to them.”

FCA petitions court to wind up Cavendish 

In October 2022 the FCA made a petition to the court to wind up eight firms, including Cavendish and Cottesmore. The Regulator said these eight firms appeared to ‘have connections’ to each other and none were authorised to provide regulated investment advice.

Cavendish Incorporated Ltd is currently in liquidation.

Making a claim against Cavendish Incorporated Ltd

You can make a claim against Cavendish Incorporated Ltd for free with the Financial Services Compensation Scheme.

Here’s some links to help you get 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

 

Looking for help with your claim? Our service can handle it for you

We specialise in mis-sold pension and investment compensation claims.

Our claims service includes full investigations and total management of your claim on your behalf.

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.

Check if you have a case with our initial assessment 

If you’re not sure if you have a case against Cavendish Incorporated Ltd or any other advice firm– our free initial assessment can help.

It’s simply a chat with one of our friendly experts who can tell you if we think you have a case.

It’s confidential and there’s absolutely no obligation to use our claims service (or any other) to make a claim.

Simply fill in the form below to arrange a call back at a time that suits you! 

Key Facts

1
Cavendish Incorporated was declared in default in October following investigations by the FSCS that began in May 2022
2
The FSCS says customers allege they were given unsuitable investment advice by Cavendish and its former AR Cottesmore Associates Ltd

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.