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If so, you could be entitled to thousands of pounds in compensation. Simply, tell us which investment product you took out from the list below:-
If so, you could be entitled to thousands of pounds in compensation. Simply, tell us which investment product you took out from the list below:-
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Mis-sold Grosvenor Butterworth Compensation Claims | No Win No Fee Solicitors

With numerous negligent financial advice claims against them, and the FCA cracking down, the Cardiff-base financial advisory firm Grosvenor Butterworth may be closing soon according to Tony Cuming, their company director. But what has Grosvenor Butter done to deserve the firm going out of business?

It could be associated with the investment portfolios of Beaufort Securities. If Grosvenor Butterworth advised you to invest in them, either through a SIPP (Self-Invested Personal Pension) or as cash, then it may be time for you to speak with one of our Specialist Case Handlers and obtain a second opinion on this advice.

The FSCS, as of June 2018, has declared Grosvenor Butterworth to be in default, which means the FSCS will consider paying on compensation claims that are made against Grosvenor Butterworth.

New FCA Rules For Grosvenor Butterworth

As reported by Citywire, the first action that the Financial Conduct Authority took against Grosvenor Butterworth occurred in June 2017. The FCA imposed a section 166 review on the firm – which basically meant it was forced to suspend some of its regulated activities (including advising on pension transfers and switches) until a knowledgeable third party was appointed to review the firm’s processes to make sure they are sufficient.

However, later the FCA expanded the restrictions and told Grosvenor Butterworth to cease all of its regulated activities until the section 166 review was completed, which means the firm can’t do much in its role as a financial advisor.

There were 25 or more section 166’s handed out least years to financial advisors where the regulator was concerned about the regulated firm’s activities. However, those against Grosvenor Butterworth went much further than some of the others. It was forced to end its relationships with any unregulated introducers.

Did You Invest In Beaufort Security Investment Portfolios?

In regards to the FCA restrictions and Grosvenor Butterworth’s decision to close, director Tony Cumming discussed how the FCA has suggested that Grosvenor Butterworth advising its clients to make investments in Beautfort Securities in all cases was unsatisfactory advice, which resulted in the removal of the firm’s permissions.

Beaufort, which is the wing of DFM which invests individual’s money into investment bond portfolios based on the investor’s financial needs, is “troubled” as well. The FCA has placed a set of restrictions on it also, and even wrote to clients encourage them to make their claims against their financial advisor’s advice to invest in their products – which is a fairly unprecedented move!

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