Leeds-based, WR Simon Ashley Silver Independent Financial Advisor Ltd, has failed with the Financial Services Compensation Scheme over investment and pensions advice.
The FSCS said it had received 14 claims in total against it, one of which has been upheld.
While the firm is authorised by the Financial Conduct Authority, it applied to cancel its authorisation as of May 27 2022.
However, the FCA pointed out that the firm must still meet its standards in dealing with customers.
The firm also has both of its accounts and confirmation statements overdue with Companies House.
Simon Ashley Silver was not the only firm that the FSCS announced had failed.
PH7 Wealth Management Ltd had one claim against it relating to Sipp advice.
The FSCS explained that they had received one claim against the firm and that it related to Sipp advice.
PH7 Wealth Management Ltd, formerly The Pension Place Ltd, was dissolved on October 3rd via a volunteering strike-off
The firm, which is based in Burnley, is no longer authorised with the Financial Conduct Authority, meaning it has been unable to provide regulated activities and products since December 2022.
It had previously traded under four different names, PH7 Insurance Brokers, PH7 Mortgages, PH7 Wealth, and PH7 Wealth Management Ltd.
Neither firm had any British Steel Pension Scheme claims against them.
tom.dunstan@ft.com
What's your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com
