The same firm was ordered to pay a client compensation by the FOS for mis-selling investments through SIPPS
A new list of 17 advice firms who have been declared “in default” with the FSCS has been published via a press release, featuring Medical and Professional Financial Management, an Edinburgh based firm that is no-longer authorised by the FCA.
Medical and Professional, who also traded as Medical and Professional Financial Management, were found at fault by the Financial Ombudsman Services back in 2014, and gave financial redress to a ‘Ms B’ in published complaint DRN9707370.
Unregulated investment into a SIPP
Ms B complained that the advice she received from Medical and Professional was unsuitable, which was to invest in a Self-Invested Personal Pension and to invest in a UCIS – and unregulated collective investment scheme, which did not fit her attitude to risk.
List of 17
The following firms have now been added to the list of firms the FSCS have declared in Default, meaning that the life-boat scheme is satisfied that the firms can not payout on successful claims against them, and the FSCS would have to pick up the tab in such a case.
| Strand Capital Limited |
| CC Bikes Realisations Limited |
| F. White & Partners |
| Danesfield Securities Limited |
| Rock Capital Group Plc |
| Financial Wisdom Limited |
| Calland Insurance & Mortgage Services |
| Neil Haworth Esq. |
| Cobra Giles Limited |
| Maitland Finance Company |
| Vima Insurance Services Limited |
| The Platinum Partnership Limited |
| E Brammah (Deceased) |
| Vickring Limited |
| Seward (Wessex) Limited |
| Bright Financial Associates Limited |
| Medical and Professional Financial Management |
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