Henderson Carter

Status:

Authorised – in administration

Reports:

FSCS puts bust pension transfer advisers into default

About:

Henderson Carter Associates Ltd (Henderson Carter) has been authorised and regulated by the Financial Conduct Authority since 2010, and traded from a number of different addresses in Cheshire. From the date of its incorporation, the company has had 5 directors, 4 of whom have resigned.

Information supplied by the Financial Conduct Authority notes that:

“…Information has been provided to the FCA which has given rise to serious concerns with respect to the adequacy of the Firm’s pensions advice…”

As a result of their concerns regarding the operation of Henderson Carter, the FCA imposed strict limitations on Henderson Carter’s permissions to conduct authorised financial advice, most notably, declaring that Henderson Carter must not:

“… carry on any activities in relation to pension switches and/or pension transfers to any self-invested personal pension scheme, including completing any business currently being processed which has not been completed, until independent verification is provided to the FCA confirming that a robust and compliant advisory process is in place for pension switching advice.”

It is still somewhat unclear exactly what kind of advice Henderson Carter was providing to clients, and where savers were encouraged to invest their pension monies. However, the actions taken against Henderson Carter by the FCA are especially damning, and suggest that mis-selling (and therefore the potential for recovery claims) were endemic in this organisation.

Henderson Carter was declared in default by the Financial Services Compensation Scheme in March 2017.

 

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