picture of bag with the word pension written on it surrounded by a tape measure

Mackie Wealth Management fails with the FSCS

The Financial Services Compensation Scheme (FSCS) has declared Mackie Wealth Management Ltd in default.

The lifeboat fund announced the firm’s failure in an update on its website on June 20th, less than a week after another Wales-based firm, Broadlands Partnership, failed. Broadlands Partnership was declared in default after the FSCS upheld a claim against the firm relating to pension advice, confirming it was not linked to the British Steel Pension Scheme (BSPS) scandal.

The FSCS said it had upheld a claim against Mackie Wealth Management for unsuitable investment advice, and a second claim is ongoing.

The Financial Conduct Authority (FCA) register shows that the firm has not been authorised to conduct regulated activities since March 2015. Companies House records show the company was dissolved a month earlier.

If your adviser fails, LawPlus Solicitors can help

Discovering that your financial adviser or pension provider has gone out of business before you were able to claim mis-selling compensation doesn’t mean your money is gone forever.

You can still take your claim to the FSCS, who can award compensation of up to £85,000, depending on when you received the financial advice in question or bought the investment or pension product you’re complaining about.

LawPlus Solicitors offers a free, no-obligation review of your financial advice or product, which will tell you whether we believe you are owed mis-selling compensation. If we think you have a case and compensation is due, you can instruct us to bring your claim on a no-win, no-fee basis.

Contact us now to get started and take the first steps to getting your money back.


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