Full Circle Asset Management Ltd
Under investigation 27 April 2018
You might be eligible for compensation
Full Circle Asset Management Ltd was a wealth management company that offered a range of discretionary fund management services.
FSCS understands that the FCA carried out a review of Full Circle Asset Management Ltd’s activities. The review produced a number of findings, including the firm’s ‘Attitude to Risk and Loss’ documentation. This was deemed not fit for purpose, as it could not evidence that the firm had collected enough information from customers to evidence that it had adequately assessed their attitudes to risk, or the suitability of investments.
See our investment compensation limits and their conditions on our Investments page.
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13 Nov, 2019
Claims made against Full Circle Asset Management have now all been moved to our claims processing teams for assessment. Decisions on these claims will be sent out shortly.
As we outlined in our previous update, we’re aware that FCA authorised advisers may have recommended customers invest with Full Circle Asset Management, or may have recommended transferring existing pensions or investments through a self-invested personal pension (SIPP).
If this applies to you and the adviser is still trading, you need to complain to that adviser. If the adviser rejects the complaint, you can take your complaint to the Financial Ombudsman Service (FOS). After adjudication from the FOS, you can make a claim with us.
If, however, the advice came from an FCA authorised adviser that’s now not trading, you should firstly submit a claim to FSCS against the financial adviser.
If you think you’ve got a claim, click the ‘Check you can claim’ button to start the process.
16 Oct, 2019
Next month, in November, claims against Full Circle Asset Management will be passed to our claims processing team for assessment. This is because we’ve concluded that Full Circle Asset Management may owe a civil liability to its customers – in other words, that there’s the potential the Firm could be sued in court.
We’re currently finalising our approach to how we’ll deal with these claims, as each claim will need to be considered individually to see if compensation is due. But if you think you’ve got a claim, click the 'Check you can claim' button to start the process.
30 Jul, 2019
FSCS is accepting claims against Full Circle Asset Management. However, claims have not yet been passed to our claims teams for assessment. Firstly, we need to establish whether there are protected claims against this firm. For this to happen we need to know that the discretionary fund manager owes a civil liability to customers that would enable them to be sued in court.
FSCS has been working with the insolvency practitioner, PCR, and other parties in order to obtain firm records and other documentation which help us to reach a view on the firm’s activities and whether there are protected claims against Full Circle Asset Management.