View more on these topics

Wealth firm collapses after FCA investigation

The FCA is investigating a wealth firm that has fallen into administration.

A note on the regulator’s website shows that SVS Securities Plc has collapsed after “urgent supervisory work” was conducted by the FCA.

The note does not detail the specific reasons why the FCA is probing the firm, however.

It reads: “Acting on intelligence received about the assets in which SVS invested its clients’ money, we conducted urgent supervisory work and identified serious concerns about the way in which the business was operating.

“The FCA has opened an investigation into this matter.”

The FCA banned SVS from conducting regulated activities and restricted it from disposing of its own or its clients’ assets. The directors then decided to place the firm into administration.

“The joint special administrators are currently considering the options for the business going forward, including a sales process of the whole or part of the business,” the FCA says. “They will be speaking with interested parties about this.”


Punter Southall launches guide on value of advice

Punter Southall Aspire has launched a new guide, which stresses the importance of regulated financial advice to manage complex retirement challenges such as drawdown. The publication focuses on the value of support and guidance on a range of financial matters including pensions, succession planning and investments. It coincides with research from the Association of British […]

Consolidator scoops up three IFAs

Consolidator Harwood Wealth Management has purchased a trio of financial advice firms. The Aim listed planning and discretionary management business has bought Goldwyns Wealth Management Ltd, Andrew Routley Pension Ltd and Patricia Hodge IFA, for around £0.8m, £0.6m and £0.4m respectively. For both Goldwyns and Routley, based in Southend on Sea and Portsmouth, the deals […]


News and expert analysis straight to your inbox

Sign up


There are 6 comments at the moment, we would love to hear your opinion too.

  1. As ever, the crunch question is for how long had these alleged malfeasances been going on before the FCA pounced.

  2. I’m always wary when a firm uses the words wealth management, either in their title or literature.

    It invariably refers to their wealth – not yours.

  3. The term “get rich quick” would be more appropriate.
    HNW is also a word used by these people.

  4. […] in the week SVS went into administration as the FCA launched a probe into the firm for undisclosed […]

  5. totally agree harry get rich quick title

Leave a comment


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 thought leadership.

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