In the vast landscape of financial advisories, there's a name that has been making waves lately - Leslie & Swallow LLP. It's essential for those connected to this firm, either directly or indirectly, to be well-informed and understand the series of events that led to its current status. If you've ever had dealings with Leslie & Swallow LLP, or recognise the name 'Aston Collie’, which Leslie & Swallow LLP traded under from 2013 to 2018, this article is crucial for you.
A Brief History of Leslie & Swallow LLP
Leslie & Swallow LLP took its initial steps in the financial advisory field on 13th June 2013. Operating out of Chatham, Kent, the firm sought to provide a range of financial services and advice to its clientele. But, as time revealed, not all was smooth sailing for this Kent-based financial advisory. As of 1st November 2019, Leslie & Swallow LLP relinquished its rights to operate under the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), marking the end of its authorised activities and products.
A striking facet of their journey is the firm's trading period under the name 'Aston Collie.' Beginning on 30th September 2013 and wrapping up on 2nd October 2018, this five-year span could hold significance for many who engaged with the firm during this phase.
The Current State of Affairs
As of 14th September 2023, the Financial Services Compensation Scheme (FSCS) officially pronounced Leslie & Swallow LLP as 'failed'. This declaration, significant in its own right, is part of a broader narrative where several advisory firms have faced similar predicaments.
For instance, while there's no direct correlation indicated, 40 advice firms have previously faced downfall. An interesting parallel is the story of Crosbie Carr Morris Ltd, based in Scotland, and Focus Oxford LLP from Oxford. Both these firms, much like Leslie & Swallow, have seen their authorisation lapse, with circumstances leading them to be no longer FCA authorised.
In the fiscal year 2022/23, FSCS reported a massive payout, amounting to £403 million, predominantly rooted in investment and pension advisories, and failures associated with SIPP operations. With £75 million in uncompensated losses sustained on pension claims, it's evident that there's a pressing issue at hand. This intricate web includes 563 authorised firms that collapsed, 64 of which were declared in default. The repercussion? About 68,000 consumers felt the financial pinch, and over 430 firms went under the FSCS scanner to determine their compensation-paying capacity and validate the legitimacy of potential claims from their past clients.
Leslie & Swallow LLP: An Unfolding Story
Our commitment at CP Financial Claims is to keep you updated. The situation concerning Leslie & Swallow LLP is evolving, with new details emerging periodically. As and when we gather more information about the firm and its operations, we will update this page.
Were You Affected?
If the name Leslie & Swallow LLP or 'Aston Collie' rings a bell, and you believe there might be a potential mis-sold claim tied to your experience, we're here to guide and assist. CP Financial Claims stands as a beacon of hope and support for individuals who might have been inadvertently caught in financial discrepancies.
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