The Financial Services Compensation Scheme (FSCS) has declared Charterhouse (Chester) Limited failed.
- A single complaint about pension transfer advice was upheld, leading to the firm’s default status.
- Nine complaints were rejected, and six others are still being processed by the FSCS.
- Charterhouse was registered in 2003 but has been unauthorised since December 2010.
- The firm, established in 1998, was dissolved in July 2014, according to Companies House.
The Financial Services Compensation Scheme recently declared Charterhouse (Chester) Limited, which operated under the name Charthouse Asset Management, as failed. This decision arises from an upheld complaint concerning pension transfer advice, which has led to the firm being declared in default. While this single case was upheld, nine further complaints were dismissed, and six are currently under review.
In terms of the firm’s regulatory history, Charterhouse was first registered in April 2003. However, it has not been authorised since December 2010, according to the Financial Conduct Authority’s records. This lack of authorisation suggests a prolonged period during which the firm continued operations without official oversight, raising potential concerns regarding its advisory practices during those years.
Further insights from Companies House reveal that Charterhouse was incorporated in June 1998 and ultimately dissolved in July 2014. This timeline indicates a business that has experienced significant operational and regulatory changes, culminating in its eventual dissolution. The implications of these events contribute to a broader narrative of firms facing scrutiny over pension-related advisories.
These developments underscore the critical need for regulatory compliance in financial advice.
