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This global reaching advice company is shown to be facing trouble from all corners. In South Africa, Brite Advisory Group had its financial services provider licence withdrawn briefly and also received major fines. In the US, Brite was hit with a default judgement by regulators for allegedly violating rules and in Australia, Brite Advisors Pty Ltd is a registered and regulated firm that faced recent court action by regulators due to concern over their financial position - key findings included that Brite was likely insolvent from at least 27 October 2023 - with liquidators appointed February 2024.
In the UK, Brite Advisors (UK) was set up as a trading name of Basi & Basi Financial Planning Ltd (Donre Advisory Ltd) until earlier this year. Following major FCA sanctions issued May 2024, Brite Advisors (UK) ceased trading as Basi & Basi who themselves then entered liquidation in July 2024. Basi & Basi's parent company was Brite Advisory Group and Australian sister company was Brite Advisors Pty Ltd.
If you believe Brite Advisory Group, Brite Advisors Pty Ltd or any of the following UK arm trading names or appointed representatives, may have wrongly advised you to move your pension, or you have suffered losses due to failed, or failing, investments - our expert financial claims team are here to investigate every avenue for you to ensure the maximum amount of compensation is identified and progressed.
To request a scheduled call, simply click here to complete our short contact form and a member of our team will call you to discuss how we can help prepare your case for compensation. It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.
Brite and its related entities provide advisory, pension administration and asset management services via an investment platform (Brite Platform) to self-invested personal pension (SIPP) providers & 'Qualifying Recognised Overseas Pension Scheme' (QROPS) Pension Transfers in multiple countries including the UK, US, South Africa, Hong Kong, and Australia.
Until recently, a Director of Brite Advisors (UK) and PSG SIPP Ltd was also a Director of Brite Advisors Ltd. Directorship to the UK arm was heavily linked to PSG Investment Trustees Ltd, TPSG Investments Ltd and Knockvaragh Investments Ltd. PSG SIPP, currently facing sanctions by the FCA, expanded when it acquired a number of pension providers; Heritage SIPP, The Saltus SIPP, The International Expat SIPP & Brooklands SIPP.
Looking at this web, one can only guess if the failings are due to the changes following the 2018 takeover, or is there more to the history behind Brite's web of connections.
Could you be in a position to make a successful claim relating to poor advice, pension switching, or a failed investment? Our expert financial claims team are here to assess your situation for you. Time line limitations to register your claim may apply so please do not delay in contacting our team to assess your potential claim. Simply click here to request a scheduled call.
It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.
You are not obliged to use our service. It is possible for you to present your claim for free, either to the firm, or person against whom you wish to complain, or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.
