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RE: PwC appointed administrators for Beaufort Securities as Financial Conduct Authority declares firm insolvent. Up to 20,000 clients have invested in products such as ISAs and Pensions and are owed around £700m..!!
Up to 20,000 clients have invested in products such as ISAs and Pensions and are owed around £700m, which has been divided as £664m assets and £36.85m in cash. It is not yet known how much of that will be recovered.
Omg this is bad. After they have invested? I feel for them because I know what it feels like to invest and then come to hear such News. What would these 2000 customers do with the meager £36.85m in cash shared among them. It's painful though but they have no choice right now than to go with that.