FSCS Failed

Were you advised by Pembrokeshire Mortgage Centre?

The FCA confirmed a 93% unsuitable advice rate. The FSCS has upheld hundreds of claims against PMC. Your case may still be open.

Check Whether You Have a Claim Time Limits Guide
£50,000 Claim band from
10/10 Opportunity score
UK Domestic Segment
Route 3 Primary route
Firm Assessment

● FCA Final Notice 2022 | FSCS Default | FRN 479220 | 93% Unsuitable Rate

What happened

The FCA issued a Final Notice against Pembrokeshire Mortgage Centre Ltd (FRN 479220) in 2022, finding a 93% unsuitable advice rate — one of the highest recorded in any FCA investigation. The firm operated across South Wales and is particularly linked to steelworker communities around Port Talbot, Swansea, and Neath. 268 of the firm's known clients were British Steel Pension Scheme members who were advised to transfer defined benefit pension entitlements into SIPPs with high-risk investments.

The FSCS declared the firm in default and has upheld over 196 claims. The firm no longer trades. Route 3 FSCS claims are submitted directly to the FSCS.

Who this affects

Former BSPS members and other DB pension holders advised by PMC or County Financial Consultants — typically between 2015 and 2018 — who have not previously complained or accepted a settlement.

Claim Routes

Which Routes Apply to This Firm

Based on this firm's current regulatory status, the following routes are available. Primary route is listed first.

Route 3

FSCS Claim (Failed Firm)

Direct claim to the Financial Services Compensation Scheme where your adviser firm has closed, entered administration, or been declared in default. Government-backed compensation of last resort.

FSCS pays up to £85,000 per person, per firm for pension advice mis-selling. For losses above this limit, Route 4 is assessed in parallel.
Questions & Answers

Frequently Asked Questions

Has PMC been shut down?
Yes. PMC (FRN 479220) has been declared in default by the FSCS and no longer trades. Claims go to the FSCS directly under Route 3.
How much can I claim through the FSCS?
The FSCS limit for pension advice mis-selling is £85,000 per person per firm. For losses above this, Route 4 civil litigation is assessed to pursue the balance from other parties.
Is my BSPS case still open?
Possibly. The key questions are whether you have previously complained, whether you accepted any prior settlement, and when you first became aware there may have been a problem.
I cannot find my paperwork. Can I still claim?
Yes. Your current pension provider is legally required to supply scheme records. The FSCS also has access to the failed firm's own records.
Urgent — Act Promptly

Time Limits on Your Claim

Pension mis-selling claims are subject to strict DISP and Limitation Act time limits. Missing a deadline can permanently bar your right to compensation.

⚠ Do Not Delay

Standard limits apply: 6 years from the date of advice, or 3 years from when you first became aware something may have gone wrong — whichever is later. View our time limits guide.

View the full time limits guide →

Start Your Free Claim Assessment

Our SRA-regulated solicitor partners assess every case individually — free of charge, with no obligation to proceed.

Begin Your Assessment
Also Reviewing

Other Firms Under Assessment

Redress Advisory is reviewing pension transfer advice from a range of firms. If your adviser is listed below, a dedicated claim page is available.

Named firms with dedicated pages
Active Wealth (UK) LtdVintage Investment ServicesCeltic Wealth ManagementTenet GroupLighthouse Financial AdviceSt James's PlaceHolistic Pension Transfer SpecialistsWellington Court Financial ServicesGuinness Mahon Trust CorpPurely Pensions / Purely FinancialBrite Advisory GroupdeVere GroupAES InternationalChase BuchananGuardian Wealth ManagementFiduciary Wealth ManagementHolborn Assets

Important Notice

Redress Advisory Ltd (Company No. 17295681) is a technology platform that provides case assessment and referral services. Redress Advisory is not a claims management company and is not regulated by the Financial Conduct Authority as such. All regulated claims management activity and legal work is carried out exclusively by our Operating SRA Partner (OSP) solicitor firms, each of which is independently authorised and regulated by the Solicitors Regulation Authority.

You do not need to use Redress Advisory or a solicitor to pursue a pension mis-selling complaint. You can complain directly to the financial firm, escalate to the Financial Ombudsman Service (FOS), or apply to the Financial Services Compensation Scheme (FSCS) yourself, free of charge. If you instruct a solicitor through our OSP partner panel, their fees will reduce any compensation you receive.

The information on this page is for general informational and educational purposes only. It does not constitute legal, financial, or regulated advice of any kind. Individual outcomes depend on the specific facts of each case.

FOS: 0800 023 4567  |  FSCS: 0800 678 1100  |  FCA Register: register.fca.org.uk