Two UK advice firms have failed on 8 December 2022, the Financial Services Compensation Scheme (FSCS) announced.
They are Craig Mitchell – trading as Craig Mitchell Personal and Corporate Financial Planning – and FSC Investment Services Limited – which used to be called Ashwood Wealth Management.
Craig Mitchell was based in Hamilton in Lanarkshire, and applied to have its authorised status cancelled by the Financial Conduct Authority on 19 March 2021, after being regulated since January 2015.
FSC Investment Services was based in Wolverhampton and it has not been authorised by the FCA since July 2019.
The FSCS confirmed to International Adviser it has so far received 22 claims against both firms – 16 against Craig Mitchell and six against FSC.
All 22 are related to investment advice. No customer filed complaints about pension transfers and/or the British Steel Pension Scheme, the FSCS added.
