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JG Wealth Management Declared in Default by FSCS Over Pension and Investment Advice

The Financial Services Compensation Scheme (FSCS) has declared Glasgow-based JG Wealth Management in default, following a successful claim relating to pension and investment advice.

The declaration, made on 16 April, came after the FSCS upheld its first claim against the firm. In total, JG Wealth Management currently has three active claims, all linked to advice given on pensions and investments—specifically involving the British Steel Pension Scheme.

According to the Financial Conduct Authority (FCA) register, JG Wealth Management has not held authorisation since September 2023. The firm has previously operated under several trading names, including Resteazy and resteazy, and had earlier names such as Clark Boyle (Financial Services), Johnston Gray & Company, Johnston Gray & Wardrop Limited, and McVey & Murricane Financial Services.

This development follows a wider trend of scrutiny around pension transfer advice, particularly for clients associated with the British Steel Pension Scheme. Earlier in April, the FSCS also declared Money Advice Partnership Ltd in default after upholding a claim related to investment advice.

If you believe you were affected by JG Wealth Management’s advice, our team at Claim My Loss can help you pursue compensation through the FSCS. Contact our specialists today for free guidance on making a claim.

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Saad Ashraf

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Claim My Loss is a trading style of HT Legal Ltd. HT Legal Ltd is registered in England and Wales.

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