Hamilton Rose Wealth Management Ltd.
Hamilton Rose Wealth Management Ltd, also trading as Athena Wealth and theisaexpert.co.uk, operated as a discretionary fund manager (DFM) for Clear Capital Management LLP. Following multiple upheld decisions by the Financial Ombudsman Service (FOS) regarding poor pension advice, Hamilton Rose Wealth Management Ltd cancelled its regulatory permissions.
Self-Invested Personal Pensions (SIPPs)
Clients’ complaints consistently highlighted that the investments made via DFMs were unsuitable, and the full costs associated with SIPPs were not adequately explained. The FOS concluded that the recommended transfers and SIPPs were inappropriate, resulting in unnecessary costs for clients. Without comprehensive information to analyse the transfers, the firm could not demonstrate that the proposed investments were in the clients’ best interests.
The SIPPs were established through InvestAcc Pension Administration Limited (FRN: 501113), with investments placed on the Jarvis Investment Management Ltd platform (FRN: 116413). Some investments included the Mercantile Opportunities Fund, MBH Corporation plc, and the Mercantile Diversified Fund—all deemed too risky for clients.
After the Financial Ombudsman Service (FOS) upheld a number of decisions against the company that forced them to pay out compensation for the poor pension advice it had given out, Hamilton Rose cancelled their regulatory licence.
Self-Invested Personal Pensions
Although the specifics of each client was somewhat different, their complaints were pretty similar with the investments made via DFMs weren’t suitable and complete cost of running the self-invested personal pensions (SIPPs) were not fully explained to clients. It was concluded by the FOS that the recommended transfer and SIPP weren’t suitable and so there was no reason for a switch and the client having to incur costs as a result. There was no was that the company could possibly determine that he transfer and investment being proposed was in the client’s best interest, without first getting information to fully analyse the transfer.
The SIPPs were established through InvestAcc Pensions Administration Ltd and the investments then placed directly onto the Jarvis Investment platform. Some investments were also put into the Mercantile Opportunities Fund, MBH Corporation Plc, and the Mercantile Diversified Fund – all of which were deemed to be too risky for clients to take on.
Unsuitable Advice
Anyone that had dealings with any of the companies mentioned and either invested money or transferred their pension may well have been given advice that was not at all suitable and so should have their transaction(s) looked at. This is also true for those individuals who have been receiving pension statements showing good performance, even though, in truth, they couldn’t access the investments.
Get Claims Help
If this sounds familiar, you should get in contact with our compensation experts who offer a pension claim consulting service completely free of charge and with no obligation to proceed. They will get to know your case then advise on what is the best way to proceed.
If you do decide to use our services, know that our fees are very reasonable as we don’t buy your personal data from those very companies that mis sold you a pensions in the first place.
Company background (public record)
The company was incorporated at Companies House on 8 September 2014 under company number 09208346. Its status at Companies House is recorded as dissolved.
Registered office: Allen House, 1 Westmead Road, Sutton, Surrey, SM1 4LA.
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 |
|---|---|---|
| 08 Sep 2014 | Company incorporated | Companies House |
| 08 Sep 2014 | Martin Ashley Vaughan appointed director | Companies House |
| 06 Apr 2016 | Mr Martin Ashley Vaughan appointed PSC | Companies House |
| 18 May 2016 | Ian Smitham appointed director | Companies House |
| 29 Jul 2016 | Adrian Jubb appointed director | Companies House |
| 26 Aug 2016 | Martin Ashley Vaughan resigned as director | Companies House |
| 11 Nov 2016 | Adrian Jubb resigned as director | Companies House |
| 02 Aug 2017 | Clear Capital Management Services (Uk) Limited appointed PSC | Companies House |
| 02 Aug 2017 | Mr Martin Ashley Vaughan resigned as PSC | Companies House |
| 12 Sep 2017 | Martin Ashley Vaughan appointed director | Companies House |
| 13 Mar 2018 | Ian Smitham resigned as director | Companies House |
| 13 Sep 2019 | Richard Walmsley appointed director | Companies House |
| 24 Sep 2019 | Martin Ashley Vaughan resigned as director | Companies House |
| 23 Feb 2022 | Company wound up (creditors’ voluntary liquidation) | Companies House |
| 23 Feb 2022 | Insolvency practitioner appointed: Martin Charles Armstrong | Companies House |
| 06 Jul 2024 | Company dissolved (creditors’ voluntary liquidation) | Companies House |
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.
- Richard Walmsley. Listed at Companies House as Active | director (appointed 2019-09-13).
- Adrian Jubb. Listed at Companies House as Resigned | director (appointed 2016-07-29, resigned 2016-11-11).
- Ian Smitham. Listed at Companies House as Resigned | director (appointed 2016-05-18, resigned 2018-03-13).
- Martin Ashley Vaughan. Listed at Companies House as Resigned | director (appointed 2017-09-12, resigned 2019-09-24).
- Martin Ashley Vaughan. Listed at Companies House as Resigned | director (appointed 2014-09-08, resigned 2016-08-26).
- Clear Capital Management Services (Uk) Limited. Listed at Companies House as Person with significant control (appointed 2017-08-02).
- Mr Martin Ashley Vaughan. Listed at Companies House as Person with significant control (appointed 2016-04-06, resigned 2017-08-02).
Review page sources: FCA Register (FRN 501113) · Companies House (09208346). Public records, provided for transparency.
