A Claims Management Company
Total amount invested
Why did people invest in it?
Greyfriars Asset Management was a Financial Advisor firm based in Leicester that was founded in 2003.
Why was it mis-selling?
The firm entered dissolution in 2018 after a number of complaints were made against them, especially about their Portfolio Six, which the FCA banned sale of in 2016.
Potential value of cases
Greyfriars Asset Management was a financial advice firm based in Leicester. It was founded in 2003 by Raymond Walker and Christopher Gladman. The firm was regulated under FRN 229285 by the FCA between 2013 and present, with previous authorisation by the FSA between 2004 and 2013. It offered a range of investment portfolios to its clients.
In 2016, Greyfriars was ordered to cease accepting new money into one of their portfolios by the FCA. This portfolio was called “Greyfriars Portfolio Number Six”. This followed a number of cases reaching the Financial Ombudsman Service about Greyfriars, with an emphasis on their Portfolio Six. Three of the four complaints were upheld by the Ombudsman.
On 23rd October 2018, the firm entered into administration, and the administration firm Smith & Williamson were appointed joint administrators of the firm. Shortly afterwards, in a bid to raise funds, the Greyfriars SIPP and SSAS business was sold to another SIPP provider, Hartley Pensions, for £820,000. They were the highest of three bids, and the administrators stated that the sale was the best possible outcome for clients of Greyfriars.
In January 2019, concerns were raised that the FSCS may not be able to pay out compensation related to Greyfriars. However, in February 2019, the FSCS proved these concerns incorrect when it issued a statement that it had begun accepting claims made against Greyfriars.
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