A Claims Management Company
Total amount invested
Why did people invest in it?
Grosvenor Butterworth was founded in 1992 as a subsidiary element of a chartered accountancy firm. It grew swiftly to be a trusted standalone entity.
Why was it mis-selling?
In December 2018, the firm lost their FCA authorisation after recommending investments through the disgraced firm Beaufort Securities which has been linked to fraud in the USA.
Potential value of cases
Grosvenor Butterworth Financial Services was a financial advice firm that was founded in 1992 by Tony Cuming. On their website, they state that the firm was originally a part of a firm of chartered accountants before swiftly growing into a self-supporting entity. They stressed the importance of taking innovative and creative routes for all ranges of “financial products and problems irrespective of the complexity.”
In November 2017, it was reported in City Wire that the firm had been ordered to shut down by the FCA over ‘unsatisfactory’ DFM investment. The DFM in question was Beaufort Securities, a firm that has since been linked to fraud in the USA. The FCA believed that the recommendations made by Grosvenor Butterworth to invest in Beaufort were a demonstration that the firm had failed to conduct appropriate due diligence before making the recommendation.
In January 2018, the firm entered liquidation. This was followed in July 2018 with a notice from the FSCS that the firm had formally been declared to be in default.
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