Are You Due A Claim Over Beaufort Securities?
Beaufort Securities: Administration & Charges
Beaufort Securities had around £700m of client money under management when it was FROZEN following a transatlantic coordinated investigation with UK & US Authorities. With that money frozen, it could be difficult to get your money out, whether that's a cash investment you made, or through your pension like a SIPP.
Following an undercover FBI sting in which defendants reportedly related to Beaufort Securities were apparently attempting to launder money through fine art (including a Picasso painting), Beaufort are apparently facing around £36million worth of charges relating to "Securities Fraud", by the US Department of Justice.
Every UK regulated financial company gets it's authorisation to perform their task from the FCA. The FCA has now taken away all of Beaufort Securities permissions to run a financial services business.
Around the same time as the revelations with the US Department of Justice and FBI were surfacing, Beaufort was declared insolvent by the UK finance bosses at the FCA, and is now in administration with PwC.
Why Should Beaufort Securities Investors Look Into A Claim?
It's been a difficult year for "troubled" investor firm Beaufort Securities, and several developments in Feb & March 2018 mean that it looks to get a lot worse.
The story (for those who are interested) is long, but we've condensed it on this page so you can understand what's happened, and why if you have a Beaufort Securities account, you may want to look at making a claim for negligent financial advice if you can.
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Can You Make a Claim Over Beaufort Securities?
Invested with BSL? Depending on how you ended up with Beaufort Securities, and what they did with your money, there may be a few reasons that investors can make a claim for any losses they may have incurred through Beaufort, and our Specialist Case Assessors have lots of experience in uncovering signs of financial negligence over the course of a Free Initial Assessment. If they do that with your case, you'll be given the option to take your claim forward, backed by our knowledge, experience and strategy to see if you can claim back for any losses you may have incurred.
Making a claim with Get Claims Advice Ltd is ALWAYS on a No Win - No Fee* basis, and begins with a FREE Initial Assessment, meaning you've nothing to lose by checking to see if you have claim, and having us pursue it for you if you have one!
We keep our Terms Of Business available on our website so you know exactly what deal your getting (24% Success fee, inclusive of VAT with a 14-day cooling off period), and you can use the same form to get in touch and ask questions too - no obligation!
Beaufort Securities Timeline
What happened with Beaufort Securties, and when?
Beaufort Securities appeared in the financial press several times in 2017, starting when following a visit from the Financial Conduct Authority, they volunteered to restrict their permissions (their ability to operate in financial services) over FCA concerns.
Then, in September 2017 Beaufort wrote to some clients to try to "shift the blame" onto the clients' financial advisers, saying that the adviser "may not have fully informed you of the risk and suitability in accordance of COB rules". They even went as far as to recommend speaking to a Claims Management Company about making a claim!
In 2018 things kept developing. In March 2018, it was revealed that US Prosecutors from the Department of Justice had been investigating Beafort Securities in conjunction with the UK FCA and the FBI over "Securities Fraud". It came to a head after a secret FBI operative caught related parties apparently attempting "money laundering" through the sale of fine art (a Picasso painting).
Now, Beaufort Securities has been declared insolvent, with over £700m of client money under management and PwC taking over the Administration of the business
Beaufort Securities is no-longer trading, and the assets under management may be frozen, meaning clients may find it difficult to get their money out.
High Risk Investments?
High risk investments aren't suitable for everyone, and if you were advised to bite off more than you can chew, it could be the basis for a claim...
Want a Specialist To Fight Your Corner?Get Claims Advice have been dealing almost exclusively with people who have been mis-sold pension investments, either through SIPPs or SSASs, including those who have gone into investments via a DFM like Beaufort, and we've been changing the fate of people's retirements ever since! We can help assess your case independently to see if you have a claim, and if you like, we can pursue it with all of our experience and passion to help turn your situation around, all on a NO WIN - NO FEE* basis!
Just fill in the form to get started with your FREE, NO OBLIGATION assessment.
*No Win - No Fee: Your claim is pursued by Get Claims Advice on your behalf with no up-front fees. In the event of a successful claim, our success fee is charged at 24% inclusive of VAT, of any monies awarded. 14 Day “cooling-off” period, after which a cancellation fee is applicable. See Terms of Business for full details.
*£33m: Figure calculated before the deduction of our success fee, charged at 24% Inclusive of VAT, correct as of 06.03.18