Navigating the intricate landscape of financial management can be overwhelming for many, and having reliable advisors is crucial. It is also essential to stay updated on the current state of financial firms, especially when it involves companies like Strategic Wealth UK Ltd.
Strategic Wealth UK Ltd, with the Financial Reference Number (FRN) 487850, started its journey when it was incorporated on 24th June 2008. For those familiar with the company, they might recall its trading name, Gibro Wealth, which was effective from April 20, 2013, to October 16, 2014. Furthermore, the firm had registered the name Gibro Wealth Limited, which remained effective from August 20, 2008, until March 22, 2013.
As the financial world can be tumultuous, the company faced its set of challenges. By October 21, 2022, Strategic Wealth UK Ltd dissolved. Before this dissolution, the company was declared as failed on April 30, 2018.
It's essential to note that Strategic Wealth UK Ltd no longer held FCA authorisation as of November 16, 2022. This move came after specific FCA restrictions were imposed on the company back in 2016. The FCA directed the firm to "Immediately cease all pensions business and pension related business... until such time as a Skilled Person appointed”. By December 2017, they were instructed to halt all regulated activity altogether.
Diving deeper, one of the significant pension providers linked with the company was the Optimus Retirement Scheme, which aims to cater to those wanting to retire abroad. This scheme remains operational in Malta. However, it's worth noting the connection with The Resort Group, as Strategic Wealth UK Ltd was among numerous advice firms with claims associated with them.
Over the years, Strategic Wealth UK Ltd collaborated with specialist offshore advisors in Gibraltar, emphasising QROPS services. Intended for those aspiring to retire abroad and transfer their pensions, QROPS schemes have, unfortunately, been misused at times. Some financial advisors have employed them to sell high-risk investments, straying from the original objective.
It's noteworthy that the Financial Services Compensation Scheme (FSCS) declared it as failed on 30th April 2018. While the FSCS is investigating claims related to the Optimus Retirement Scheme, the evidence might suggest that the advice to clients didn't originate from Strategic Wealth UK Limited but rather from an entity based in Gibraltar. Regardless, FSCS remains open to evaluating claims from Strategic Wealth UK Ltd's customers regarding negligent pension advice concerning the Optimus Retirement Scheme.
Adding to the Gibraltar link, Strategic Wealth UK Ltd was known to offer a range of services including the reception and transmission of orders relating to financial instruments, investment advice, and other forms of financial recommendations.
This situation around Strategic Wealth UK Ltd remains fluid, with updates likely to emerge over time. At CP Financial Claims, our focus remains on providing reliable guidance to those affected or potentially impacted by such transitions in the financial landscape.
If the names Strategic Wealth UK Ltd, Gibro Wealth, or any related terms resonate with your financial history or present a concern, we urge you to reach out.
As and when we receive more information concerning Strategic Wealth UK Ltd, we will update this page.
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