The company isn’t really around anymore, and many pensions they had under their care were transferred out to Family Pension trust or Heritage Pensions Limited.
Part of the problem with Brooklands may be because many of the pensions they had contained high-risk investments, some of which collapsed, became illiquid and couldn’t be moved or sold, or took big drops in value.
This obviously wasn’t a good thing for the company, or the people who invested their pension with Brooklands, many of whom may have been mis-sold their pension in the first place.
Timeline of events: Brooklands Trustees
2006 - Brooklands Trustees
Formed in March 2006
2016 - FSCS Claims
Jan 2016 brought the news that the FOS held Brooklands Trustees at fault for claims totalling £1.6m because of due dilligence failures.
The FSCS would have to pick up the tab.
2016 - Collapse into administration
Brooklands entered into administration (a type of insolvency proceedings) in July 2016
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