Anthony William Morrin, formerly AWM Financial Services Failed on 24 April 2017.

Anthony William Morrin also advised some of their clients to transfer their pensions into a Qualifying Regulated Overseas Pension Scheme (QROPS). These pensions are suitable for people who are moving abroad and additional checks need to be made relating to dual taxation treaties between the UK and the country to which the person is moving.

However, it has come to light that the majority of the clients advised transferring into such a scheme had no intentions of ever moving abroad. This advice is clearly unsuitable and, in addition to this, the investments that the firm recommended be held within the pension were high-risk products such as Dolphin Capital, High Street Boutique, and Storefirst which have all now failed and the investors have lost the majority, if not all, of their investment.

Following all this, the firm had a number of decisions upheld against them which lead to them having to pay compensation to their clients.

Anthony William Morrin gave up their authorisation in December 2016 and closed their doors for good.

If you have received advice from Anthony William Morrin or AWM Financial Limited, please fill in the contact form below and one of our experts will be in touch to discuss your circumstances and will be able to assess whether or not the advice you were provided with was suitable for you.