Beaufort Securities Ltd - Beaufort SIPP

If you invested with Beaufort, either with their DFM service or into the Beaufort SIPP you may want to check if you should be claiming compensation for mis-selling

Beaufort Securities Limited started out in 1992 and have previously being known as Hoodless Brennan & Partners, Hoodless Brennan PLC, HB Markets PLC and HB Markets Ltd.

Providing financial services such as Discretionary Fund Management (DFM), Stockbroking, as well as aspects of SIPP pensions and investments. 

The Beaufort Securities group of companies have been no stranger to controversy.

Brief Timeline

  • 2003 – they were fined for producing false and mis-leading info for an announcement they made that they had placed £2.5m of shares in PrimeEnt Plc – a media company listed as on the AIM (Alternative Investment Markets) – when that wasn’t the case.
  • 2006 – they were fined again after the FSA considered that Hoodless Brennan staff had deliberately engaged in “unacceptable selling practices”
  • 2016 – FCA put restrictions on Beaufort Securities as claims against Beaufort SIPP rise
  • 2018 – Beaufort Asset Clearing Services went into special administration following an FBI undercover operation involving alleged money laundering, securities fraud and a Picasso Painting!
  • 2020 – Both companies entered administration in 2018. Beaufort Securities is now dissolved following liquidation. 

Beaufort SIPP

In 2016 the FCA placed restrictions on Beaufort Securities in respect of regulated activity. Claims started to arise in respect of the Beaufort SIPP as it became clear that the high-risk investments within this SIPP were unsuitable for the investors who had been advised to transfer into it.

As with most cases of SIPP mis-selling, the claim for compensation is usually made against an Adviser for the regulated advice. However, a DFM also has a regulated obligation and in a case upheld against Beaufort in 2017, the FOS said: ‘Even if there was some input from the IFA, Beaufort Securities accepts that its DFM had authority to make his own investment decisions.’

Aegis Power Bond

The Aegis Power Bond is an investment known to have been included in some Beaufort portfolios, despite being an unsuitable investment for the clients.

Get an expert opinion with our free assessment check

Whilst each case is individual, as mis-selling specialists we know to look for certain 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 case.

Key Facts

Beaufort had high-risk, unregulated investments such as AEGIS Power Bond in some SIPPs
Other trading names include Hoodless Brennan & HB Markets
Beaufort went into Administration in 2018

We win more than 9 out of 10 claims

The cost of our service is 18% inc VAT on the total monies awarded for a successful claim

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.