Cheshire pension adviser is 6th failed firm this month

Macclesfield-based pension adviser The Chambers Partnership Ltd (FRN 495472) has been declared in default by the FSCS, opening the door to at least one compensation claim. The firm ceased to be authorised after September 2016 but at its peak employed nearly 30 regulated staff, according to the FCA register. The FSCS said that it had received four claims against the firm so far, with one upheld to date. December has seen a spate of six adviser or pension firms being declared as failed this month, with two others under FSCS investigation - eight firms in total. In contrast, only two adviser firms were declared as failed in November. The declaration of default opens the door to ex-clients with valid claims to seek compensation of up to £85,000 per claim, the FSCS maximum. The Chambers Partnership was based at Lyme Green Business Park, Macclesfield, Cheshire. The firm is not connected to any BSPS claims, the FSCS said. Last week four firms were declared as in default by the FSCS: Houghton Edwards LLP (FRN 591926) (failed); Rowanmoor Personal Pensions Ltd (FRN458260) (failed); IFS Aegis Ltd, formerly Authorised Financial Advisors Ltd (587982) (failed); BlueSky Wealth Management Ltd (FRN446963) (failed). Placed under investigation by the FSCS earlier this month were Holborn Assets Ltd (648817) and Inspirational Financial Management Ltd (FRN223511). At the beginning of the month Quadros Financial Solutions Ltd (FRN 764760) was declared as failed. Most of the firms were declared as in default or under investigation due to pensions and investment claims, or both.

Cheshire pension adviser is 6th failed firm this month

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