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The Monetary Providers Compensation Scheme (FSCS) has declared Manchester-based Pension Recommendation Specialists Ltd (FRN: 792927) as failed.
It’s the fifth agency to be declared as failed by the FSCS to date this week.
The agency beforehand traded as Ashworth Wealth between September 2021 and Might 2022.
The transfer opens the doorways to ex-clients to say as much as £85,000 per declare in the event that they had been wrongly suggested.
The FSCS instructed Monetary Planning Immediately that it has to date acquired 14 claims towards the agency, all associated to pension switch recommendation. The primary of those claims has simply been upheld, triggering the default declaration.
Not one of the claims are associated to the British Metal Pension Scheme.
In response to the FCA register, Pension Recommendation Specialists Ltd is at the moment in an insolvency course of and underneath the management of the appointed insolvency workplace holder, Leonard Curtis.
The agency has been in administration since Might 2023, based on Firms Home. On the level of administration the agency had £113,037 within the financial institution. It has been authorised by the FCA since March 2018.
Pension Recommendation Specialists is the newest in plenty of companies to fail resulting from complaints involving pension switch recommendation.
Earlier this month the FSCS declared Swindon-based recommendation agency AP Monetary Providers UK Ltd in default after upholding a pension switch criticism towards the agency.
The FSCS headcount is about to rise from 254 to 321 with the recruitment of 67 new employees.
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