Grosvenor Butterworth Pension Claims
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With their hands tied behind their back by the FCA and with a legacy of negligent financial advice claims stacked behind them, Grosvenor Butterworth – the Cardiff-based financial advice firm is now in liquidation, so says company director Tony Cuming. But what did Grosvenor Butterworth do to deserve going out of business?
The answer may be linked to Beaufort Securities investment portfolios, and if you’ve been advised by Grosvenor Butterworth to invest in one, either as cash or via a Self-Invested Personal Pension (SIPP), then it might be time to get a second opinion on that advice from our Specialist Case Handlers…
Now, as of June 2018, the FSCS has declared that Grosvenor Butterworth are now in default, meaning that the FSCS will consider paying out for compensation claims made against the firm.
Can you make a claim?
Can You Make A Grosvenor Butterworth Claim?
Financial advisers have a duty to only advise in their clients’ best interests, and that includes ensuring that pension transfers and investments are suitable.
If you:
- Transferred your pension to a SIPP
- Made high-risk investments
- Aren’t earning over £100k per year
- Aren’t a Sophisticated Investor
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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Let’s Rewrite Your Financial Story
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
When you get let down by someone you thought you could trust, it can leave its mark on you, emotionally and physically.
We are committed to transparency and fairness in the way we conduct with clients, including how we charge for our claims services.
FCA Rules For Grosvenor Butterworth
Financial Conduct Authority first took action against Grosvenor Butterworth back in June 2017, when it slapped them with a section 166 review – basically, meaning that it had to suspend some regulated activities (such as advising on pension switches and transfers), until a “skilled” third party had been appointed to review their processes to ensure they are up to scratch.
But later on, the FCA went the whole-hog and expanded these restrictions to a “cease all regulated activities” until the completion of the section 166 review, meaning Grosvenor Butterworth couldn’t do very much in it’s capacity as a financial adviser.
At least 25 section 166s were handed out to financial advisers last year, in cases where the regulator is “concerned […] about aspects of a regulated firm’s activities”, but Grosvenor Butterworth’s went further than some others, forcing then to end their relationships with unregulated introducers.
Grosvenor Butterworth Timeline
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Grosvenor
1992
Setup in Cardiff, Grosvenor Butterworth officially registered on the 9 March 1992. It later registered trading names such as “Improve My Pension Now”.
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Unsuitable Investment Advice
2013
In 2013, the Ombudsman decided that Grosvenor Butterworth had given clients (Mr & Mrs E) unsuitable pension advice, putting them at more risk than they could afford.
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Skandia
2016
After a few more FOS complaints about ISAs, the Ombudsman also upheld a decision against Grosvenor Butterworth regarding unsuitable pension advice
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Media Attention
2017
By 2017, Grosvenor Butterworth was looking like it would close, after the FCA said it had given “unsatisfactory” advice over Beaufort Securities investments.
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Liquidation
2018
Just a few months later, the company went into Liquidation.
Related To Grosvenor Butterworth
SOPHISTICATED INVESTOR
Do you have a wealth of knowledge and experience in investing?
HIGH NET-WORTH 1
Do you earn in excess of £100,000 per annum?
HIGH NET-WORTH 2
Or do you own £250,000 worth of investable assets?
Do you know how people complained about mis-sold investments and pensions in the last year?
A lot. Over twenty thousand complaints were made about mis-sold pensions and investments in 2020/21, a figure which had doubled since the year before.. It’s no secret how serious this problem is, and it just seems to keep getting worse.
Have You Been A Victim Of Financial Mis-Selling?
Reaching out for help is never easy,
especially if you’ve been misled in the past.
But getting in touch with us won’t commit you to anything. We want to toss you a lifeboat and guide you through the choppy waters of the financial ocean, not leave you struggling to stay afloat. Our experts are here to offer advice and support on financial claims. We know what we’re doing and you can trust that if you’ve got questions, we’ve got answers.
Spencer Churchill Claims Advice featured on:
Spencer Churchill Claims Advice Will:
- Speak to you in plain English
- Provide you with a dedicated claims specialist
- Pay attention to the small details of your case
- Keep you up to date with the status of your claim
- Make sure you understand our charges
- Do absolutely everything we can to win your claim
How does our claims process work?
Our claims process is dead easy, so we can sum it up in the four simple steps below:
What Types Of Claims Do We Handle?
Speak to an expert today
We have decades of experience in helping people claim back money that is rightfully theirs. Whether you want to make a mis-sold pension claim, have questions about a mis-sold investment, or you’re just looking for some advice you can trust – we’ve got you covered. Reach out to our team today for a no-obligation, completely free chat.
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