Dolfin Financial (UK) Ltd
In special administration 30 June 2021
Dolfin is an independent wealth management firm. It provides investment management, investment advisory, execution-only and custody services.
On 12 March 2021, the Financial Conduct Authority (FCA) imposed restrictions on Dolfin. This meant it could not conduct its regulated activities in the normal way. Dolfin’s Board of Directors began an orderly wind-down of the company.
On 30 June 2021, it was placed in Special Administration following a court application.
The court application was made after it became clear that the company’s wind-down should take place within a formal insolvency process. Adam Stephens and Kevin Ley of Smith & Williamson LLP were appointed Joint Special Administrators.
Further details can be found at the Joint Special Administrators’ website.
You can also read details of the Special Administration on the FCA website.
Customers should subscribe to this page to receive the latest updates on FSCS's handling of the Dolfin failure.
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11 Mar, 2022
Based on our investigations to date, FSCS does not consider that the requirements for paying compensation under our rules are met. This means that:
- if the Special Administrators of Dolfin are able to offer a transfer to a new broker for customers who still have client assets and money with the firm, FSCS would not be able to fund that transfer; and
- FSCS is not accepting claims from customers of Dolfin.
The Special Administrators will advise customers of the next steps in due course.