Strategic Wealth UK Ltd trading as Gibro Wealth

Failed 30 April 2018

FRN: 487850

You might be eligible for compensation

This firm no longer exists, so you may be able to make a claim against it. To find out, click the ‘Check if you can claim’ button.

The next step will be to answer a series of straightforward questions.

Should you need help, click on the ‘Need help’ button and choose to speak to one of our friendly claims handlers, or type a question into the FAQ option.

Below you can sign up for news updates to be sent to your email address. Note that firms with few claims against them may not generate any updates.

  • 12 Feb, 2021

    Strategic Wealth UK Ltd operated in the UK offering an advisory service to customers across a range of products including pension advice and pension transfers.

    FSCS has been investigating advice-related claims concerning Strategic Wealth Ltd (SW – a Gibraltar based firm) and Strategic Wealth UK Ltd (SWUK). We are looking to identify which firm provided the advice to customers to transfer their pensions into the Optimus Retirement Scheme (an offshore QROPS scheme administered by Integrated-Capabilities (Malta) Ltd), and in particular, whether there are valid claims under FSCS rules.

    Customers are now seeking compensation from FSCS due to the failure of the Optimus scheme. They understood that they received advice from SWUK to transfer their pensions and that the advice was unsuitable.

    Having considered all the information available to FSCS, and the claims we have received, there is a lack of evidence to suggest that the advice was provided by SWUK.  Rather, it appears to have been provided by SW being the Gibraltar-based entity and therefore outside the FSCS’ jurisdiction to protect claims.

    Also, while there may be a suggestion that the IFA - SWUK - provided advice to a small group of customers (on behalf of SW), and that it took place at the customers’ residence in the UK, there is a lack of evidence to conclude that (1) the presence of SW via the IFA in the UK was on more than a temporary basis and (2) that SW was operating a branch in the UK.

    FSCS would still welcome claims that have not yet been submitted, as each claim will be considered on its own merits. As such FSCS would still encourage claims from customers if they feel they have received negligent pension advice to transfer into the Optimus Retirement scheme.

FSCS

Contact us by phone on the number below, or via the contact form on the Contact us page.