The Financial Services Compensation Scheme (FSCS) is making investors aware that Northampton-based advice firm Better Retirement Group has failed.
The UK lifeboat scheme said on 16 June 2021 that now the firm has been liquidated, investors may be eligible for compensation.
Better Retirement Group was formerly trading as Directly Financial Limited and Financial Strategy Limited.
The FSCS did not state why the firm had failed. International Adviser had contacted the FSCS, but it did not reply in time for publication.
Asset retention
This comes months after the firm was issued with an asset retention requirement by the FCA on 14 October 2020.
The notice said that, effective from 14 October 2020, the firm will not in any way:
- dispose of, deal with or diminish the value of any of its assets, whether in the UK or elsewhere; and/or
- dispose of, transfer or sell in whole or in part its client base without the prior written consent of the FCA.
