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HomeFinancial PlanningFSCS probes BSPS adviser which used 38 trading names 

FSCS probes BSPS adviser which used 38 trading names 



Pension transfer adviser Better Retirement Group Ltd, a firm which has used nearly 40 trading names, has today been placed under investigation by the Financial Services Compensation Scheme.

The FSCS said the firm, under investigation for a number of BSPS pension transfers, was formerly known as Directly Financial Ltd and Financial Strategy Ltd.

The firm also currently trades under three main names: Better Retirement Group Ltd, Better Annuity and Better Retirement.

However a check of the FCA register shows the firm has used at least 38 trading names in its history, including at least four this year.

Previous names the company has used since 1993 include the Pension Tracing Service, Pension Vesting Service, MPI Financial, Better Wealth Management, CLAASS Financial Planning, Arlington Financial and Millenial (sic) Wealth. 

Previous names used by the company (from the FCA Register):










































Company Name

Type of name

Effective from

Effective to

Better Financial Solutions

Trading

05 Jun 2020

14 Apr 2022

Pension Tracing Service

Trading

24 Apr 2020

14 Apr 2022

Pension Vesting Service

Trading

30 Mar 2020

24 Apr 2020

MPI Financial

Trading

12 Dec 2019

10 Feb 2021

Money Advice Partnership

Trading

19 Jun 2019

14 Apr 2022

Better Wealth Management

Trading

26 Apr 2019

14 Apr 2022

CLAASS Financial Planning

Trading

26 Apr 2019

10 Feb 2021

Arlington Financial

Trading

07 Mar 2019

05 Jun 2020

Millenial Wealth

Trading

31 Oct 2018

23 Aug 2019

Marwood Financial

Trading

15 Jun 2018

23 Aug 2019

SIPPCLUB

Trading

15 Jan 2018

15 Sept 2021

SIPP Club

Trading

15 Sept 2017

15 Jan 2018

ADVIES WEALTH

Trading

11 Sept 2017

27 Feb 2020

FIDUCIA PROSPERITY

Trading

11 Sept 2017

03 May 2019

I-Retirement

Trading

19 Jun 2015

15 Sept 2017

Retirement Choices

Trading

19 Jun 2015

15 Sept 2017

Better Financial Planning

Trading

25 Feb 2015

31 Oct 2018

Tuto

Trading

16 Jan 2015

01 Apr 2015

Better Retirement Solutions

Trading

01 Oct 2014

23 Aug 2019

Better Retirement Income

Trading

20 Jun 2014

23 Aug 2019

Better Care

Trading

31 Jan 2011

23 Aug 2019

Better Drawdown

Trading

31 Jan 2011

23 Aug 2019

Better Equity Release

Trading

31 Jan 2011

23 Aug 2019

Better Investment

Trading

31 Jan 2011

23 Aug 2019

Better Pension

Trading

31 Jan 2011

23 Aug 2019

Directly Financial

Trading

31 Jan 2011

23 Aug 2019

William Burrows Annuities

Trading

31 Jan 2011

23 Aug 2019

JTD Financial Services

Trading

25 Nov 2009

15 Sept 2017

JTD Financial Ltd

Trading

15 Nov 2009

19 Apr 2010

Burrows & Cummins

Trading

24 Jul 2009

01 Apr 2015

EquityCare

Trading

24 Jul 2009

23 Aug 2019

Clancy LeSurf

Trading

11 Jan 2006

23 Jan 2008

Directly Financial Limited

Registered

20 Apr 2000

31 Jan 2011

Life & Health Direct

Trading

18 Jan 2000

23 Jan 2008

Term Direct

Trading

18 Feb 1998

24 Jul 2009

Financial Strategy Limited

Registered

12 Jul 1995

20 Apr 2000

The Pensions Bureau Limited

Registered

21 Apr 1995

12 Jul 1995

Annuity Direct

Trading

15 Jan 1993

24 Jul 2009

Source: FCA Register

Better Retirement Group Ltd (FRN: 153420) is one of more than 30 adviser firms with claims connected to transfers from the British Steel Pension Scheme (BSPS). It’s the third advisory business this week to face FSCS investigation over BSPS transfers. The FCA Register lists the firm at an address in Northampton. 

The FCA has placed a number of restrictions on the company over the past six years. In 2016 it was stopped from carrying out consumer buy-to-let mortgage business. In 2020 the firm was stopped from disposing of any assets and in May this year it was stopped from conducting any investment business.

The FSCS said that in 2017, many British Steel workers were advised to transfer out of their defined benefit pension into a defined contribution pension, typically a Personal Pension Plan or a Self-Invested Personal Pension (SIPP). 

The compensation body said that by transferring to a private pension arrangement, members of the BSPS scheme would have lost the benefits already built up in the British Steel Pension Scheme. The FSCS said the advice they received, “may not have been the best advice for them.”

The FSCS investigation may be followed by Better Retirement Group being declared in default, opening the door to claims for compensation from clients.

The FSCS has pointed out that a claims company is not necessary to claim compensation.




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