HYDE FINANCIAL MANAGEMENT Ltd
Hyde Financial Management Ltd (HFM) (FRN: 501271)is one of the firms linked to unsuitable advice around British Steel Pension Scheme transfers. The company has since gone into liquidation, with Butcher Woods Corporate Recovery appointed to manage the process.
In 2017, many members of the British Steel Pension Scheme (BSPS) were advised to transfer out of their defined benefit pensions into defined contribution arrangements, such as Personal Pension Plans or Self-Invested Personal Pensions (SIPPs).
By moving to private pension schemes, they gave up the guaranteed benefits they had built up in the BSPS. In many cases, it was unlikely their new plans would be able to provide the same level of long-term financial security. For some, the advice they received simply wasn’t in their best interests.
HFM operated under several trading names, including Imperial Wealth Management, Property Information Reports, Money Smart (UK) Limited, and The HIP Partnership.
The firm ran into serious trouble for its role in arranging British Steel pension transfers. It worked alongside authorised introducers, individuals or firms who were not permitted to provide pension transfer advice, who completed key documents such as client fact-finds and attitude to risk questionnaires.
In some cases, HFM arranged pension transfers without ever meeting the steelworkers involved. This lack of direct engagement raised significant concerns about the suitability and quality of advice given during what was a complex and high-stakes financial decision.
Company background (public record)
The company was incorporated at Companies House on 16 February 2009 under company number 06820882. Its status at Companies House is recorded as dissolved.
Registered office: 79 Caroline Street, Birmingham, B3 1UP.
Previously named: IMPERIAL WEALTH MANAGEMENT LIMITED; HYDE FINANCIAL MANAGEMENT LIMITED; MONEY SMART (UK) LIMITED.
Nature of business (SIC): 65110.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 16 Feb 2009 | Company incorporated | Companies House |
| 16 Feb 2009 | Jason Lee Jones appointed director | Companies House |
| 16 Feb 2009 | Anthony Gwynne Cole appointed secretary | Companies House |
| 25 Feb 2009 | Anthony Gwynne Cole resigned as secretary | Companies House |
| 01 Feb 2010 | Jason Lee Jones approved by the FCA at the firm | FCA Register |
| 10 Mar 2010 | Company renamed (previously MONEY SMART (UK) LIMITED) | Companies House |
| 20 Aug 2010 | Company renamed (previously HYDE FINANCIAL MANAGEMENT LIMITED) | Companies House |
| 07 Oct 2010 | Michael Hawker approved by the FCA at the firm | FCA Register |
| 31 Mar 2011 | Acquiesce Cover LTD appointed as appointed representative | FCA Register |
| 01 Jun 2011 | Gareth Thomas Morgan appointed director | Companies House |
| 01 Jun 2011 | Imperial Wealth Management Limited appointed corporate-director | Companies House |
| 08 Nov 2017 | Gwyn-May Financial Advisors Limited ceased as appointed representative | FCA Register |
| 13 Nov 2017 | Paul Cox approved by the FCA at the firm | FCA Register |
| 22 Nov 2017 | Kevin Charles Robins approved by the FCA at the firm | FCA Register |
| 06 Mar 2018 | Rhidian Huw Jones approved by the FCA at the firm | FCA Register |
| 18 May 2018 | Stuart Michael Roberts approved by the FCA at the firm | FCA Register |
| 20 Jun 2018 | scott smith approved by the FCA at the firm | FCA Register |
| 08 May 2019 | Imperial Wealth International Ltd ceased as appointed representative | FCA Register |
| 17 Oct 2019 | Lezanne O'Donoghue approved by the FCA at the firm | FCA Register |
| 18 Oct 2019 | Ted Powell approved by the FCA at the firm | FCA Register |
| 29 Jan 2020 | Company renamed (previously IMPERIAL WEALTH MANAGEMENT LIMITED) | Companies House |
| 21 Apr 2020 | Company wound up (creditors’ voluntary liquidation) | Companies House |
| 21 Apr 2020 | Insolvency practitioner appointed: Roderick Graham Butcher | Companies House |
| 15 Mar 2021 | Declared in default by the FSCS | FSCS |
| 07 Sep 2021 | FSCS update: September 2021 one-to-one events We are holding one-to-one sessions for those who transferred out of the BSPS | FSCS |
| 30 Sep 2021 | Company dissolved (creditors’ voluntary liquidation) | Companies House |
| 10 Nov 2021 | FSCS update: Further one-to-one sessions for those who transferred out of the BSPS are to be held in Swansea and Scunthorpe this mont… | FSCS |
| 24 Nov 2021 | FCA status recorded as: No longer authorised | FCA Register |
Focused on the firm’s early history and the events leading up to and following its failure. 13 routine entries from its active years are omitted.
Who was involved?
The following individuals are listed on public records in connection with the firm. These are matters of public record only and their inclusion does not imply any wrongdoing by any named person.
- Michael Ian Wayman. Listed on the FCA Register as having held CF1 Director (AR) (15/11/2016 to 16/05/2017) at the firm.
- Gareth Thomas Morgan. Listed on the FCA Register as having held CF30 Customer (01/06/2011 to 08/12/2019), CF1 Director (01/06/2011 to 08/12/2019), SMF3 Executive Director (09/12/2019 to 30/09/2021) at the firm.
- Jason Lee Jones. Listed on the FCA Register as having held CF30 Customer (27/10/2010 to 08/12/2019), CF11 Money Laundering Reporting (27/10/2010 to 08/12/2019), CF10 Compliance Oversight (27/10/2010 to 08/12/2019), CF1 Director (01/02/2010 to 08/12/2019) at the firm.
- Stuart Paul D'Ivry. Listed on the FCA Register as having held CF30 Customer (04/08/2016 to 22/05/2019) at the firm.
- Ted Powell. Listed on the FCA Register as having held CF30 Customer (18/10/2019 to 08/12/2019) at the firm.
- Michael Hawker. Listed on the FCA Register as having held CF30 Customer (12/03/2013 to 08/12/2019) at the firm.
- Rhidian Huw Jones. Listed on the FCA Register as having held CF30 Customer (06/03/2018 to 08/12/2019) at the firm.
- Stuart Michael Roberts. Listed on the FCA Register as having held CF30 Customer (18/05/2018 to 08/12/2019) at the firm.
- scott smith. Listed on the FCA Register as having held CF30 Customer (20/06/2018 to 08/12/2019) at the firm.
- Lezanne O'Donoghue. Listed on the FCA Register as having held CF30 Customer (17/10/2019 to 08/12/2019) at the firm.
Appointed Representatives and Agents
While it was authorised, the firm acted as principal for the following appointed representatives. An appointed representative carries on regulated business under the responsibility of its principal, so their conduct can be relevant to a claim.
| Appointed representative | Reference | Effective from | Ended |
|---|---|---|---|
| Acquiesce Cover LTD | FRN 544552 | 31/03/2011 | 12/04/2012 |
| Corner Stone Loans Ltd | FRN 602323 | 07/06/2013 | 23/05/2017 |
| Gwyn-May Financial Advisors Limited | FRN 654156 | 26/09/2017 | 08/11/2017 |
| Imperial Wealth International Ltd | FRN 782688 | 27/06/2017 | 08/05/2019 |
Review page sources: FCA Register (FRN 501271) · Companies House (06820882) · FSCS. Public records, provided for transparency.
