View more on these topics

Administrators anticipate compensation for Greyfriars investors

Investors from collapsed wealth manager Greyfriars Asset Management should be able to get some type of compensation, say administrators Smith & Williamson.

Greyfriars went into liquidation in October 2018 when Smith & Williamson were appointed as joint administrators to the troubled provider.

A six-month progress report published on Companies House sheds light on how the administration work on the firm is going.

It says due to ongoing talks with the Financial Services Compensation Scheme it is unclear at present whether certain claims will be accepted and what they might be.

The report also says no action has been taken yet to agree what should happen to  received claims but it is anticipated realisations will be sufficient to pay a dividend to unsecure creditors.

Sixteen claims have been received so far and amount to £1.1m.

In January Greyfriars sold its Sipp and SSAS administration business to Hartley Pensions for £820,000 that consisted of 1600 Sipps, 160 SSAS and almost £500m assets under management.

Recommended

3

Can anyone define adviser value?

Most who get advice are satisfied, but how do you quantify what a great financial plan is worth? Advisers in the post-RDR world are keener than ever to prove that the benefits of sound financial advice extend well beyond where client money is invested, contributing something special that those simply getting guidance cannot benefit from. […]

LV= offers Isa access to smoothed funds

LV= has launched a new stocks and shares Isa, adding to its existing range of smoothed managed funds for advised clients. It says the funds, which have previously only been available through bond and pension products, reduce the impact of short-term market fluctuations for investors. Available only to advised clients, the new LV= Isa provides […]

A female Caucasian doctor and a young girl of African descent are indoors in a hospital room. The girl has cancer. She is being comforted by her doctor while being hooked up to an IV.
3

Government offers NHS doctors more flexible pensions

The government is looking to make pensions more flexible for senior doctors under new proposals. In recent months, fears over staff attrition in the NHS have increased, as doctors and medical organisations report increased cases of senior staff working fewer hours, opting out of the NHS Pension Scheme, or retiring earlier due to the tax […]

1

Alastair Irvine: Shaky ground for the euro as it turns 20

When a currency is trying to be all things to all people, it lives dangerously The euro has reached its 20th anniversary without much fanfare. Across those nations that call it their currency, there remains debate on whether it has boosted prosperity, or been a straitjacket hindering the growth of the bloc’s more fragile economies. […]

Mark Page: why my biggest overweight stock is a discount Spanish retailer

Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com