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Nexus Independent Financial Advisers Ltd

Under Investigation 25/04/2023

FRN: 584769

Nexus Independent Financial Advisers Ltd was placed under investigation by the Financial Services Compensation Scheme (FSCS) in April 2023.

On 26 January 2023 the firm was placed in administration and Nicola Layland & Carl Faulds of Leonard Curtis Business Solutions Group were appointed as Administrators.

According to the Financial Conduct Authority register, the firm had 26 trading names. These include Nexus Financial Planning, Nexus Discretionary Wealth Services, Nexus Portfolio Services, Nexus Wealth and Nexus IFA.

FCA notice and restrictions

The FCA issued a first supervisory notice to Nexus Independent Financial Advisers Limited and Nexus Investment Managers Limited in January 2023.

The FCA said it “…has very serious concerns about the conduct of the Firms in that the Authority is concerned that the Firms’ sole Director may have deducted sums from clients without authorisation or without their knowledge.”

The regulator also placed restrictions on the firm in January 2023 regarding assets and instructed the firm to “immediately cease carrying on all regulated activities for which it has a Part 4A permission” other than where it has the express written consent of the FCA.

 

FSCS claims against Nexus Independent Financial Advisers Ltd

The Financial Services Compensation Scheme has said it is now accepting claims against Nexus Independent Financial Advisers Ltd.

It also confirmed that it is currently “working closely with the Administrators” while it investigates whether customers who have submitted claims are eligible for compensation under FSCS rules.

It stated that until it has completed its investigations, it cannot say whether the FSCS will be able to pay claims against the firm.

 

Key Facts

1
The firm was placed in Administration in January 2023
2
The FSCS is accepting claims but is currently investigating if there are eligible claims under its rules
3
If you're concerned about pension mis-selling our initial assessment could help! We can tell you if we think you have a case - no obligation to use our service.

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.