A Claims Management Company
Total amount invested
Why did people invest in it?
Kingsbridge Asset Management was a financial advice firm that specialised in advising professional footballers in making tax-efficient investments.
Why was it mis-selling?
The firm caused over £100 million in losses among these footballers after HMRC clamped down on the schemes.
Potential value of cases
Kingsbridge Asset Management was a firm that offered financial advice to professional footballers to assist them in making tax-efficient investments. The firm was also known as Formation Asset Management.
The firm advised using tax-efficient schemes in order to help footballers manage their wealth more efficiently. This included using schemes such as film investments as, at the time, these were not taxed as highly by HMRC. However, over £100 million in losses were ultimately lost by these footballers when HMRC cracked down on the schemes.
KFS Holdings, one part of the overall Kingsbridge Asset Management firm was declared to be in default by the FSCS on 19th January 2016. Formation Asset Management was declared to be in default by the FSCS in late March 2016. Between January 2016 and July 2016, the FSCS paid out a total of over £500,000 in compensation related to mis-selling conducted by the firm. Their insolvency case remains ongoing.
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