The Financial Services Compensation Scheme (FSCS) declared that IFG Financial Services Limited has failed on 2 November 2022.
The company was based in Cambridge, it used to be called IFG Life & Pensions Limited and traded as Goldstone Financial Services.
According to the Financial Conduct Authority Register, IFG stopped being regulated on 13 January 2016.
The FSCS told International Adviser it received five claims against the advice firm – four related to pension transfer advice and one about a mortgage endowment.
Four claims – the one about the mortgage endowment and three about pension advice – have been rejected by the lifeboat scheme, and only one of the pension transfer advice claims has been deemed valid.
The FSCS added that none of the claims are related to the British Steel Pension Scheme.