The Financial Services Compensation Scheme (FSCS) has announced that London-based Maymont Wealth Limited and Kent-based Cheshire Trafford UK Limited have failed.
According to the Financial Conduct Authority (FCA), IFA firm Maymont has been in liquidation since June 2023 with Geoffrey Bouchier being appointed liquidator.
The FSCS told International Adviser that they have received seven claims in total about Maymont Wealth Limited.
All of the claims are still in progress and are related to pension advice transfers and SIPPs.
The company is also known as GWM Investment Management Limited and Discover Wealth Limited.
Second failed firm
IFA firm Cheshire Trafford UK Limited has not been authorised by the FCA since January 2023.
According to Companies House an active proposal has been issued this month to strike the firm off the register and dissolve it unless cause is shown to the contrary.
The FSCS told IA that that they have received four claims in total about Cheshire Trafford UK Limited.
All of the claims are still in progress and are related to pension advice transfer and investments.
