Keywood Olley & Associates Ltd was a financial services firm based in West Yorkshire.
It also traded as North East Mortgages and EMH Financial Planning.
And Eden Pensions & Retirement Solutions was a previous name.
According to the FCA register the firm was ordered to cease all regulated activities on 9th August 2021.
It had also previously had an asset retention order.
The register also states that the firm applied to cancel its FCA permissions on 1st June 2022.
On April 5th, 2022, the Financial Services Compensation Scheme (FSCS) declared Keywood Olley & Associates in default
The FSCS usually declares a firm in default if it has established that there are protected claims against the firm.
And that the firm or Adviser are unable or unlikely to be able to pay the compensation.
The FSCS confirmed to FT Adviser that it had received claims against the firm in relation to pension advice.
The BAD news:
Pension mis-selling has cost pension savers BILLIONS of pounds
The GOOD news:
Compensation payments are hitting record figures every year
The FSCS has said Keywood Olley & Associates is one of the firms associated with claims regarding British Steel Pensions.
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).
Unfortunately, the advice that many BSPS members received to transfer may not have been the best advice for them.
Transferring into a private pension arrangement meant a loss of benefits already built up in the British Steel Pension Scheme.
And it would be unrealistic to achieve the same level of benefits from their new pension plan.
British Steel pension scheme members are now seeking compensation for unsuitable pension transfer advice.
If your Adviser is declared in default, the FSCS steps in and can pay compensation to eligible claimants.
This means you can still make a claim for compensation against Keywood Olley & Associates Ltd. But the Financial Services Compensation Scheme will now process the claim.
It’s important to note that the FSCS has limits to how much compensation it can award. This depends on factors such as when and how you were mis-sold.
If you’re worried that the pension advice you received may mean you’ve been mis-sold – we may be able to help.
Each case is individual. But as mis-selling specialists, we know to look for signs that in our experience indicate that mis-selling may have happened.
Our assessment is free and there’s absolutely no obligation to use our service if you have a case.
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.