The FSCS has declared nine financial services firms - including failed SIPP provider Rowanmoor - in default during December and January, including several financial advisers.

The Financial Services Compensation Scheme faces a payout of up to £124m after declaring collapsed SIPP and SSAS firm Rowanmoor as failed.

The sale of failed firm Rowanmoor Personal Pensions Limited (RPPL) to SIPP and SSAS provider Alltrust completed on Friday 3 March following exchange of contracts in December 2022.

SSAS firm Westbridge Group has added three new hires following the announcement of its acquisition of failed pension firm Rowanmoor’s SSAS business.

SIPP and SSAS provider Alltrust has acquired failed firm Rowanmoor Personal Pensions Limited (RPPL).

The demise of Rowanmoor Personal Pensions this week comes as no surprise.

The FSCS has received nearly 3,000 claims against 116 advice firms involved in recommending pension products from failed SIPP firm Rowanmoor.

Major SIPP and SSAS firm Rowanmoor Personal Pensions Limited (RPPL) has gone into administration.

In my last article I questioned just what is “fair and reasonable” when it comes to regulation. This was prompted by a recent FOS determination involving a complaint by a Mr T. against Rowanmoor Pensions.

Rowanmoor owner the Embark Group has appointed Sara Wilson as its new head of platform proposition after she recently transferred from Alliance Trust Savings (ATS).