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Bridgend-based recommendation agency Broadlands Partnership (FRN: 402268) has been declared as in default by the Monetary Providers Compensation Scheme (FSCS), opening the door for compensation.
Broadlands ceased to be authorised by the FCA in August 2012 and entered voluntary liquidation in 2020.
FSCS stated it has acquired 8 claims towards the agency in relation to residence finance, investments and pension recommendation.
One declare has been upheld concerning pension recommendation
The declare was not associated to the British Metal Pension Scheme
The opposite seven claims acquired by the FSCS have been unsuccessful.
Broadlands previously traded underneath the names Manning Gee Investments, Idea Wealth Administration, Wynne Evans Buying and selling as Evans Jones & Co, and Dragon Monetary.
The FSCS, the safety-net scheme for retail traders, declared 9 corporations in default in April and Could.
The default declaration opens the door to purchasers of the corporations with legitimate claims to hunt compensation of as much as £85,000 per declare.
All of the corporations have gone out of enterprise and are unable to satisfy claims themselves.
The FSCS has burdened that its service is free to clients and safety covers cash held in financial institution, constructing society and credit score union accounts. The FSCS additionally protects purchasers investing in pensions, monetary recommendation, insurance coverage, investments, mortgage recommendation and arranging, debt administration and funeral plans.
The FSCS was arrange by Parliament in 2001 underneath the Monetary Providers and Markets Act 2000. It’s funded by a levy on monetary corporations authorised by the Prudential Regulation Authority (PRA) or the Monetary Conduct Authority (FCA).
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