ESTATE MATTERS FINANCIAL
Estate Matters Financial Limited (FRN: 472900), which also operated under the name Pension Matters, has been linked to claims involving the British Steel Pension Scheme (BSPS).
Back in 2017, a significant number of British Steel workers were advised to move their pensions out of the BSPS. This meant transferring from a defined benefit scheme into a defined contribution arrangement, such as a Personal Pension Plan or a Self-Invested Personal Pension (SIPP).
By doing so, they gave up the guaranteed income they had built up in the BSPS. In many cases, it was unlikely that their new pension plans could deliver the same level of long-term security. The guidance they received at the time may not have been in their best interests.
The Financial Conduct Authority (FCA) has since taken action against Estate Matters Financial Limited for giving unsuitable advice around defined benefit pension transfers. In early 2021, the FCA began civil proceedings in the High Court against Paul Steel, a director and part-owner of the firm, along with his partner, Jacqueline Foster. The court initially placed a freeze on their assets up to a value of £7 million. These proceedings concluded in July 2023, and the injunction has now been lifted.
Estate Matters Financial Limited has been declared in default by the Financial Services Compensation Scheme (FSCS), which is now accepting claims from eligible individuals.
Company background (public record)
The company was incorporated at Companies House on 6 August 2007 under company number 06334652. Its status at Companies House is recorded as dissolved.
Registered office: 79 Caroline Street, Birmingham, B3 1UP.
Nature of business (SIC): 66110.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 06 Aug 2007 | Company incorporated | Companies House |
| 06 Aug 2007 | Paul Steel appointed director | Companies House |
| 06 Aug 2007 | Jacqueline Joanne Foster appointed secretary | Companies House |
| 06 Nov 2007 | Paul Steel approved by the FCA at the firm | FCA Register |
| 06 Nov 2007 | Leonard Roy Coulson approved by the FCA at the firm | FCA Register |
| 19 Jan 2016 | Pension Matters (north East) Limited appointed as appointed representative | FCA Register |
| 31 Aug 2016 | Jacqueline Joanne Foster resigned as secretary | Companies House |
| 28 Apr 2017 | Michael Davidson approved by the FCA at the firm | FCA Register |
| 19 Jul 2017 | Pension Matters (north East) Limited ceased as appointed representative | FCA Register |
| 14 Oct 2019 | Company wound up (creditors’ voluntary liquidation) | Companies House |
| 12 Jun 2020 | Insolvency practitioner appointed: Roderick Graham Butcher | Companies House |
| 25 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 |
| 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 |
| 25 Apr 2024 | Company dissolved (creditors’ voluntary liquidation) | Companies House |
| 25 Apr 2024 | FCA status recorded as: No longer authorised | FCA Register |
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 Davidson. Listed on the FCA Register as having held CF30 Customer (28/04/2017 to 08/12/2019) at the firm.
- Paul Steel. Listed on the FCA Register as having held CF30 Customer (06/11/2007 to 08/12/2019), CF11 Money Laundering Reporting (06/11/2007 to 08/12/2019), CF10 Compliance Oversight (06/11/2007 to 08/12/2019), CF1 Director (06/11/2007 to 08/12/2019) at the firm.
- Leonard Roy Coulson. Listed on the FCA Register as having held CF30 Customer (06/11/2007 to 30/06/2008) at the firm.
- Jacqueline Joanne Foster. Listed at Companies House as secretary (appointed 2007-08-06, resigned 2016-08-31).
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 |
|---|---|---|---|
| Pension Matters (north East) Limited | FRN 670087 | 19/01/2016 | 19/07/2017 |
Review page sources: FCA Register (FRN 472900) · Companies House (06334652) · FSCS. Public records, provided for transparency.
