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Westbury Private Clients & Westbury SIPP

Westbury Private Clients & Westbury SIPP

Westbury Private Clients LLP was a wealth management firm.

It was set up in 2010 as the wealth management arm of MSS Capital.

In 2013 it was bought out of the partnership and became authorised in its own right by the FCA.

It is currently in liquidation. It was reported that Westbury were managing £300m in assets before it was wound up.

Westbury SIPP

Westbury Private Clients also operated as investment manager/discretionary fund manager (DFM) for the Westbury SIPP.

The Westbury SIPP was launched in 2014 and SIPP provider Gaudi Regulated Services provided administration services.

In 2017 a spokesman for Gaudi said of Westbury that they had “ceased accepting new business in July 2016”

And confirmed that “The total value held via ourselves, was just under £20 million, although we understand there are a number of other Sipp operators who have business with Westbury.”

Reyker Securities

Westbury previously had an agreement with Reyker Securities, a DFM and financial services firm which provided custodian services for Westbury.

However, it was reported in 2017 that Reyker had “terminated” the agreement.

The reasons for which were “confidential

 

FSCS Claims

Westbury Private Clients was declared in default by the FSCS on the 6th May 2022.

The FSCS has said it has received claims from Westbury Private Clients customers highlighting concerns that it didn’t carry out enough due diligence.

This is in relation to transfers/investments into the Westbury SIPP.

These claims are questioning the suitability of Westbury SIPP, due to the high-risk nature of the investments.

This has led to investors losing money.

The FSCS are currently still investigating these claims to establish if any regulatory breaches may have occurred. And if customers are protected under FSCS rules.

The BAD news:

The Mis-sold SIPP scandal has cost pension savers BILLIONS of pounds.

The GOOD news:

Compensation payments are hitting record figures every year.

Want to check if you may have a case?

If you are concerned about the advice you received from Westbury Private Clients LLP or to transfer into Westbury SIPP – we can help!

Our initial assessment can help you check if you should be making a claim.

 

Each case is individual, but as mis-selling specialists we 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.

Reasons To Choose Us:

1

We are 100% pension mis-selling claims

2

We win more than 9 out of 10 complaints

3

Our fee is 15% +VAT on the total monies offered for a successful claim and is capped at £7,500 +VAT

4

There is no charge for unsuccessful claims

Arrange a free assessment




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