Planet Pensions, an advice firm connected to pensions transfers into the Forthplus Sipp, has been declared in default.
In an announcement posted yesterday (14 February) the Financial Services Compensation Scheme said all current claims against the firm have moved to its processing teams for assessment. The lifeboat scheme has received 222 claims, with one being upheld, which triggered the FSCS declaring the firm in default, a spokesperson said. A total 12 of the claims have been unsuccessful, with the remaining 209 in progress. The FSCS started by accepting claims against Planet Pensions, which was previously trading as Square Mile International Financial, involving advice in connection to pension ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
