They were declared in default by the FSCS in January 2020 following 99 complaints made to the Financial Ombudsman Service.
The FSCS usually declares a company in default when they are satisfied there is a valid claim and that the company is unable to return money to eligible customers.
Many of these complaints involved pension transfer advice given to clients to move their pensions into SIPPs.
Unfortunately, these SIPPs held high -risk investments which are not usually recommended for the average SIPP investor.
One investment was German Property Group previously called Dolphin Capital / Dolphin Trust.
This investment to develop unlisted buildings in Germany promised high returns but caused significant losses to UK pension investors. GPG/Dolphin is currently undergoing bankruptcy proceedings in Germany.
Other high-risk, unregulated investments include Best International – Lateral Eco Park, Colonial Capital Bonds as well as DFM Beaufort Securities.
Company background (public record)
The company was incorporated at Companies House on 15 September 2008 under company number 06697525. Its status at Companies House is recorded as liquidation.
Registered office: SANDERLINGS, Becketts Farm Alcester Road Wythall, Birmingham, B47 6AJ.
Nature of business (SIC): 64999.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 15 Sep 2008 | Company incorporated | Companies House |
| 15 Sep 2008 | Craig John Humphreys appointed director | Companies House |
| 14 Oct 2008 | Stuart Lowbridge appointed secretary | Companies House |
| 14 Jan 2009 | Craig Humphreys approved by the FCA at the firm | FCA Register |
| 01 May 2009 | BlackStar Wealth Management A Ltd appointed as appointed representative | FCA Register |
| 11 May 2009 | Alan Charlesworth approved by the FCA at the firm | FCA Register |
| 16 Nov 2009 | BlackStar Wealth Management B Ltd appointed as appointed representative | FCA Register |
| 14 Feb 2011 | BlackStar Capital Partners LLP appointed as appointed representative | FCA Register |
| 05 May 2011 | Simon David Baldwin approved by the FCA at the firm | FCA Register |
| 27 Jan 2014 | Assetmatters Limited appointed as appointed representative | FCA Register |
| 30 Sep 2014 | BlackStar Wealth Management B Ltd ceased as appointed representative | FCA Register |
| 11 Jul 2016 | Assetmatters Limited ceased as appointed representative | FCA Register |
| 11 Jul 2016 | BlackStar Capital Partners LLP ceased as appointed representative | FCA Register |
| 12 Jul 2018 | Stuart Lowbridge resigned as secretary | Companies House |
| 13 Aug 2019 | Company entered administration (in administration) | Companies House |
| 14 Jan 2020 | Declared in default by the FSCS | FSCS |
| 14 Apr 2020 | Company administration ended (in administration) | Companies House |
| 22 Apr 2020 | Company wound up (creditors’ voluntary liquidation) | Companies House |
| 22 Apr 2020 | Insolvency practitioner appointed: Sandra Fender | Companies House |
| 22 Apr 2020 | Insolvency practitioner appointed: Andrew Fender | Companies House |
| 14 Jul 2020 | FCA status recorded as: No longer authorised | FCA Register |
| 14 Jul 2020 | BlackStar Wealth Management A Ltd ceased as appointed representative | FCA Register |
| 09 Apr 2021 | FSCS update | FSCS |
| 05 Jul 2021 | FSCS update: FSCS is continuing to investigate whether the firm carried out a regulated activity in relation to customers who investe… | FSCS |
| 07 Feb 2022 | FSCS update: Thank you for your patience while we have been investigating these issues | FSCS |
| 25 Mar 2022 | FSCS update: FSCS has now concluded its investigations into BlackStar’s activities regarding direct investments in Colonial Capital G… | FSCS |
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.
- Simon David Baldwin. Listed on the FCA Register as having held CF30 Customer (05/05/2011 to 11/11/2011) at the firm.
- Craig Humphreys. Listed on the FCA Register as having held CF11 Money Laundering Reporting (14/01/2009 to 08/12/2019), CF10 Compliance Oversight (14/01/2009 to 08/12/2019), CF1 Director (14/01/2009 to 08/12/2019), CF1 Director (AR) (10/12/2009 to 12/08/2014) at the firm.
- Alan Charlesworth. Listed on the FCA Register as having held CF30 Customer (11/05/2009 to 24/09/2018) at the firm.
- Craig John Humphreys. Listed at Companies House as director (appointed 2008-09-15).
- Stuart Lowbridge. Listed at Companies House as secretary (appointed 2008-10-14, resigned 2018-07-12).
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 |
|---|---|---|---|
| Assetmatters Limited | FRN 613661 | 27/01/2014 | 11/07/2016 |
| BlackStar Capital Partners LLP | FRN 541438 | 14/02/2011 | 11/07/2016 |
| BlackStar Wealth Management A Ltd | FRN 500403 | 01/05/2009 | 14/07/2020 |
| BlackStar Wealth Management B Ltd | FRN 512454 | 16/11/2009 | 30/09/2014 |
Review page sources: FCA Register (FRN 491609) · Companies House (06697525) · FSCS. Public records, provided for transparency.
