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The Monetary Companies Compensation Scheme has declared Swindon-based recommendation agency AP Monetary Companies UK Ltd in default.
Based on the FCA Register the agency has not been authorised since Might 2021.
In the meantime Corporations Home information present that it was dissolved through obligatory strike-off in August 2023.
The FSCS advised Monetary Planning In the present day that it has obtained and upheld a single declare in opposition to the agency, for pension switch recommendation. It added that the declare wasn’t associated to BSPS.
AP Monetary Companies was registered in 2003 and has been buying and selling underneath 4 different names together with AP Monetary Planning Service since 2014, Stuart James Clark Monetary Companies since 2009, GW Monetary Planning Companies since 2009 and Pella Associates since 2003.
Based on the FCA’s register, It has additionally beforehand traded underneath 9 completely different names starting with Ned Naylor & Co, which it traded underneath between March 2003 and October 2014.
In October 2003 it started buying and selling underneath the title Mel Duckfield Monetary Companies and in 2004 it added the buying and selling names David G Elvy Monetary Consultancy and Monetary & Safety Choices.
In 2006 Simon Crawley & Co was added whereas in 2009 it added Abramov Unbiased and Isas4schools.com. It had ceased buying and selling underneath most of these names by 2014 when it added Zafar Imran Mortgage Consultancy and Stuart James Clark Monetary Companies. The latter solely lasted per week as a buying and selling title, presumably as a result of the administrators realised they’d already registered the buying and selling title again in 2009.
Corporations Home information present that whereas director Cathleen Williamson was based mostly in Swindon, the corporate’s different administrators from its formation in 2002 had been all based mostly in South Wales. Ms Williamson owned 75% or extra of the shares, based on the information.
The Monetary Companies Compensation Scheme plans to extend its workforce by about 25% by 2024/25 to deal with a surge in complicated circumstances, the physique confirmed to Monetary Planning In the present day in January.
The FSCS headcount will rise from 254 to 321 with the recruitment of 67 new workers.
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