Facet Investment Management in Administration

Facet Investment Management Ltd, a Discretionary Fund Manager (DFM) and stockbroker, entered administration on 23 August 2024 following an application by a Director of the Company.

The company, based in Crawley, West Sussex, provided ‘multi-asset pension portfolios’, including bond and loan note investments as well as Independent Financial Advice through Berkeley Financial, its appointed representative firm, since November 2014.

Both Facet and Berkeley Financial Partners Ltd are owned by Brook Capital Ltd, an unregulated firm based in Coventry.

In Spring 2024, the Financial Conduct Authority (FCA) imposed asset retention restrictions on Facet, preventing the disposal or transfer of assets (including its clients). Restrictions on the firm were further tightened on 26 June 2024 when Facet and its appointed representative Berkeley were prevented from carrying out any regulated activities without the consent of the FCA.

The Financial Services Compensation Scheme (FSCS) is currently investigating Facet to determine if claims for compensation meet its qualifying conditions.

Before going into administration, the Financial Ombudsman Service (FOS) upheld 12 complaints against Facet, finding that the firm was liable form losses in its clients' portfolios by investing in unsuitable, high-risk investments.

CP Financial Claims can assist you with claims to the FSCS against Facet, or its appointed representative, Berkeley Financial.

Facet's other appointed representative firms include AFM Management Limited and Allonby and Partners Ltd. We continue to investigate the regulated activities of these two firms.