Welcome to CP Financials Claims, your trusted source for valuable insights on a wide range of financial services and institutions. In this article, we will delve into the details of SQ Wealth (previously known as Quay Wealth Management Ltd), an Independent Financial Advisor (IFA) dedicated to meeting customer expectations and maintaining high standards, despite its current administration status.
Join us as we explore the firm's history, services, recent developments, and the importance of taking proactive steps to safeguard your financial interests.
Who, What When?
SQ Wealth, formerly known as Quay Wealth Management Ltd, has been authorised and operating since August 19, 2015. Headquartered in central Manchester, the firm has traded under various names, including Cottons Financial Planning, Quays Wealth Management Limited, and Aspire Business Management Limited.
With a solid foundation, SQ Wealth has earned a reputation for providing exceptional financial advisory services tailored to clients' diverse needs.
Administration and Failure:
In November 2022, SQ Wealth entered administration, resulting in the cessation of new business operations. However, despite this setback, the firm continues to fulfil its obligations to customers in accordance with regulatory requirements.
The Financial Services Compensation Scheme (FSCS) has officially declared SQ Wealth as failed, allowing clients to make claims against the firm to seek compensation for their losses.
Services and Expertise:
SQ Wealth prides itself on offering a wide range of financial advisory services designed to cater to clients' unique requirements. Their team of experienced advisors specialises in providing expert guidance on various aspects of personal finance, including investment management, retirement planning, tax optimisation, wealth protection strategies, and more.
By understanding clients' goals and aspirations, SQ Wealth delivers tailored solutions to help them make informed decisions and achieve financial success.
As of April 2023, SQ Wealth has received 13 pension-related claims, excluding those associated with the British Steel Pension Scheme saga. While one claim has been upheld, indicating a potential issue, the remaining 12 claims were still in progress.
This situation emphasises the importance of regular monitoring and review of financial advisors to ensure the safety and security of your investments. It is crucial for individuals and businesses to remain vigilant, keeping track of their financial affairs and promptly addressing any concerns and if you do feel like you have been affected, it may be time to open a claim for compensation.
Despite its administration status, SQ Wealth remains dedicated to upholding the highest standards in customer service. The firm recognises the significance of fulfilling its obligations and continues to operate within the parameters set by regulatory bodies.
SQ Wealth understands the trust placed in them by their clients and takes proactive measures to address their needs, concerns, and queries promptly. By maintaining open lines of communication, SQ Wealth aims to instill confidence and trust in its clients during this challenging period.
Financial Conduct Authority (FCA) Authorisation:
SQ Wealth, previously authorised as Quays Wealth Management, operates under the regulations and oversight of the Financial Conduct Authority (FCA). The FCA plays a crucial role in safeguarding consumers and maintaining the integrity of the financial services industry.
As a regulated firm, SQ Wealth is subject to ongoing scrutiny to ensure compliance with regulatory requirements, protecting the interests of its clients and promoting transparency and fairness.
The Next Steps:
Clients who have been impacted by SQ Wealth's failure can seek compensation through the Financial Services Compensation Scheme. It is crucial to seek professional advice and guidance throughout the claims process to ensure the best possible outcome.
Stay informed, take proactive steps to safeguard your financial interests, and trust in the expertise of qualified professionals to guide you through these challenging times.
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