Blankstone Sington Limited (BSL)
Blankstone Sington Limited (FRN 143694) was a Liverpool-based wealth management and stockbroking firm with a history stretching back to 1976. At its height, the firm managed investment portfolios worth more than £470 million on behalf of its clients, and it was well known in the city, in part for its dealings in Everton Football Club shares.
The firm’s difficulties began in 2020, when it reported a pre-tax loss, a growing pension deficit and increasing customer withdrawals. Senior management, including the CEO, resigned during this period, and concerns mounted about whether suitable replacements could be found to keep the business running. In November 2021, the FCA took temporary action to prevent BSL from disposing of its own assets, accepting new client money, or opening new client accounts without written FCA consent.
The firm entered special administration in October 2023, following a court application by the FCA. Andrew Poxon, Alex Cadwallader and Hilary Pascoe of Leonard Curtis were appointed joint special administrators. The FSCS declared Blankstone Sington in default on 17 May 2024, having concluded that the firm cannot meet valid claims made against it by its customers.
Issues / Why You May Have a Claim
Clients who entrusted Blankstone Sington with their investment portfolios or retirement savings over many years had a reasonable expectation that their money was being managed carefully and in their best interests. Where portfolio decisions were unsuitable, or where the firm’s declining financial position resulted in harm to clients, compensation claims may be available through the FSCS.
