Midhurst Asset Management, Nurture Financial Planning and Cadogan Asset Management are the first advice firms to fail in 2023.
The Financial Services Compensation Scheme (FSCS) declared their failure on 9 January 2023 for the first two and on 10 January for Cadogan.
Nurture FP became authorised by the Financial Conduct Authority (FCA) in January 2013 and lost its authorised status in January 2021.
But there is no data regarding Midhurst on the FCA Register. The only information available about the firm, which used to be called Legistshelfco No 122, is that it dissolved in 2007.
Cadogan AM has not been authorised by the FCA since October 2020, and was first given authorised status in October 2016. On 8 March 2022, the company received a notice for compulsory strike-off, only for the order to be suspended on 17 March 2022, Companies House filings show.
The FSCS told International Adviser it has one valid claim against Midhurst related to investment advice; three claims against Nurture FP about pension transfer advice – none related to the British Steel Pension Scheme – and six claims against Cadogan AM all related to investment advice, three of which have already been deemed as unsuccessful.
