Kynaston Carnoustie might not be the easiest name to pronounce, but it’s a name the team of specialist SIPP claims handlers at Spencer Churchill Claims Advice are all familiar.
Kynaston was declared in default by the FSCS back in July 2014, and was later de-authorised by the watchdogs at the FCA because of the advice they gave people about their pensions.
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Kynaston Carnoustie’s mis-selling of high-risk investments through SIPPs is well known to the team at Spencer Churchill Claims Advice. The FSCS has been paying out on successful claims against Kynaston for some time.
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Following a petition, Kynaston Carnoustie starting winding up into a Compulsory liquidation in June 2013 – meaning they had no choice but to go out of business.
The FSCS declared Kynaston Carnoustie was in default, which meant they felt Kynaston could not pay former clients who made claims against it. Future claims would go to the FSCS.