Sigma Asset Management: IFA in default over pensions advice

Good news if you’re an ex-client of Surrey-based wealth management firm Sigma Asset Management (or one of its 18 appointed rep firms), as the Financial Services Compensation Scheme (FSCS) has now declared it in default – opening the door to claims of up to £85,000 in compensation.

Where it went wrong for Sigma

While Sigma was previously authorised by the Financial Conduct Authority (FCA), the business – based in Byfleet, Surrey – ceased to be authorised in 2018 and was dissolved in 2020. It was also responsible for 18 Appointed Representative firms, which included:

• Aberdeen McGee Financial Management
• Accumulus Consulting
• Ballams Financial Services
• Capital Management Solutions
• CFG Financial Planning, Colne Professional
• Core Financial Services
• Deben Professional
• Henleys Financial
• Hogbens Dunphy Financial Services
• Homesavers Financial Services
• Jon Charles IFA
• S&C Financial Planning
• Sigma Wealth Strategies
• TR Youngs Financial Planning
• Think Financial MGMT
• Toptax Financial Services
• WD Financial Planning

The FSCS has received five claims so far relating to Sigma Asset Management’s pensions advice, one of which has now been upheld, opening the door to all other viable claims.

The Sigma timeline

April 1997 – Sigma incorporated
March 2004 – Sigma Asset Management registered, and regulated by the Financial Services Authority
April 2013 – regulated by the Financial Conduct Authority
July 2018 – FCA authorisation withdrawn
April 2020 – Sigma Asset Management dissolved
March 2026 – one of five claims against the company’s pensions advice upheld

What compensation might be available?

Now a claim has been upheld relating to pensions advice and declared Sigma to be in default as it’s unable to pay compensation, ex-clients who have lost money may now be able to claim for up to £85,000 per successful claim under the FSCS scheme.

Keeping you up to date

We’re continuously tracking developments with claims against Sigma Asset Management – so you can rest assured we’ll bring you updates as soon as further details become available.

What happens next and how CP Financial Claims can help

We’re specialists in recovering money from failed or mis-sold investments, and have made many successful claims on behalf of clients who’ve lost out as a result.

We can handle the entire process of putting together your claim, including paperwork and communicating with the FSCS, the Ombudsman or the firm directly. There’s nothing to pay upfront, and you only pay a fee if we’re successful, so it could be well worth your while talking to us now.

While you’re not obliged to use a claims management company, and can claim for free through the FSCS or Financial Ombudsman Service, our specialist advice and support means making a claim is a smooth and straightforward process.

Your next steps

If you’ve been given poor advice by Sigma Asset Management and lost money as a result, you can submit your details on this page for a free, no obligation chat with our team of experts. They’ll give you clear, straightforward advice on the options available to you.