Financial Services Compensation Scheme  

FSCS declares advice firm in default with 31 claims

FSCS declares advice firm in default with 31 claims

The Financial Services Compensation Scheme has declared a Nottingham-based advice firm in default, one month after it was struck off the Companies House register.

Hamilton Rose Wealth Management Ltd, trading as Athena Wealth and as, was recorded as failed on December 23, 2021.

The FSCS has now received 31 claims in total against the firm, one of which has been completed and upheld. The remaining 30 complaints are in progress. 

Of those claims, 17 out of 30 are relating to self-invested personal pensions, for clients who were given advice from Hamilton Rose to take out a new Sipp. 

One person, who submitted a claim against Hamilton Rose, told the BBC in November last year that had £165,000 invested with the firm.

The remainder of the claims about various different investments.

Hamilton Rose Wealth Management was a subsidiary of discretionary fund manager Clear Capital Management, which was declared as dissolved by the FSCS in September last year.

The FSCS also told FTAdviser it had no evidence of any British Steel Pension Scheme links with this firm at present.

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