Wellington Court Financial Services is a financial advice firm based in County Offaly, Ireland. They had temporary FCA permissions to provide certain services in the UK and had an office based in Devon.
On June 22nd, 2022, the Financial Services Compensation Scheme (FSCS) announced that Wellington Court Financial Services is “under investigation”.
The FSCS is now considering customers’ claims and has been working with the FCA and Financial Ombudsman Service to investigate the firm’s activities.
There were also reports of Wellington Court’s involvement in a pension transfer in which a client moved from a local government pension scheme into a SIPP. This kind of pension transfer is seldom recommended as it’s rarely the case that the client will be better off.
The client was introduced by Brunel and Lewis and the SIPP was run by with Forthplus Pensions. Both companies have been linked to other mis-selling cases involving pension transfers