Courtiers Investment Services Limited no longer accepting new business

Courtiers Investment Services Limited, a Discretionary Fund Management (DFM) firm, based at Henley-on-Thames, Oxfordshire has become subject to asset and activity restrictions placed on the firm by the Financial Conduct Authority (FCA). ‘Asset Restrictions’ are a common move by the regulator to prevent firms that have a volume of claims against them from stripping out funds that could be used to settle valid claimants.

A notice prominently displayed on the firm’s website states that “Courtiers Investment Services Limited has voluntarily agreed with the FCA to abstain from accepting new business, whilst it consolidates recent acquisitions and embeds essential business oversight functions with our new client management framework designed to enhance client service.”

The restrictions also apply to the firm’s two appointed representative firms: Paragon Financial Planning Ltd and Snowdon Financial Ltd.

In recent years the company has expanded rapidly, with the acquisition of Devon-based Davidsons Independent Financial Advisers followed by the purchase in November 2023 of another DFM firm, Brunswick Investment Management, based in Norwich.

The company has set aside £3 million to cover the expected value of compensation in and an equivalent amount specifically to cover unsuitable defined benefits (company) pensions advice claims.

Additionally, the firm has established a ‘Liquidity Buffer’ to further protect liquidity in the event of potential redress payments and associated costs for remedial action. The firm’s accounts (in the 12 months to March 2023) show a net positive balance of £4.2 million. [source citywire.com]

If you believe that you have suffered a financial loss due to investing through Courtiers, CP Financial Claims are here to assist you in determining whether you are in a position to make a successful claim for compensation.