FSCS Declares Two Firms in Default for Pension and Investment Advice

The Financial Services Compensation Scheme (FSCS) has declared two firms, London-based Holistic Pension Transfer Specialists and Sussex-based J Monroe Ltd, as being in default.

According to the FCA register, Holistic Pension Transfer Specialists is still authorised, but only for specific activities and product types. Companies House records indicate that the firm has gone into liquidation, with a voluntary liquidator appointed in July 2023.

The FSCS has reported receiving a total of 11 claims against Holistic Pension Transfer Specialists. Of these claims, one has been upheld and one has been rejected, primarily relating to pension transfer advice.

Second Firm in Default

J Monroe Ltd has not been authorised since August 2021, according to the FCA register. The firm was dissolved in September 2023 following its liquidation, as documented by Companies House.

The FSCS declared J Monroe Ltd in default this morning (4 July), after the first claim against it was upheld. The firm was involved in life distribution, pensions, and investment intermediation.

This announcement comes shortly after the FSCS declared MacInnes and Bottomley in default on Monday, 1 July. Searches for this firm on the FCA register yielded no results, with the FSCS confirming that there were no records of the firm being regulated by the FCA or FSA.