On 23 October 2018, Greyfriars Asset Management LLP ('Greyfriars'), a firm authorised and regulated by the FCA, appointed Adam Stephens and Henry Shinners of Smith and Williamson LLP as joint administrators.
The administrators will contact all affected clients in due course.
If you're a Greyfriars client and need more information about how you will be affected:
- visit https://smithandwilliamson.com/en/business/services/restructuring-and-recovery-services/greyfriars-asset-management-llp-in-administration
- call 020 7131 8327, or
- email [email protected]
Being Alert to Scams
All customers should remain alert to the possibility of fraud. If you are cold called by someone claiming to be from Greyfriars, Smith & Williamson or any other company claiming to be involved in Greyfriars’ administration, please end the call and call them back using the number above.
Greyfriars ceased to provide Discretionary Fund Management (DFM) services as of 31 March 2018 at which point clients transferred their portfolios out to an alternative provider or else became advisory clients of Greyfriars. In some cases, client money and custody assets relating to the DFM services is still held by Greyfriars. These monies and assets are in the process of being returned as outlined below – to be announced.
Greyfriars sold its Financial Adviser business on 16 October 2018 to Insight Financial Associates Limited. Insight is writing to all advisory customers – to be announced.
SIPPS and SASS Services
On 25 October 2018 Greyfriars SIPP and SSAS business was sold to Hartley Pensions Limited. Hartley will write to those SIPP and SSAS clients subject to this deal – to be announced.
A previous transaction saw a number of Greyfriars SIPP customers transfer to Gaudi Regulated Services Limited.
Client Money and Assets
Greyfriars holds client money and custody assets for a small number of customers. Prior to entering administration, Greyfriars had notified these customers of its intention to return to them all client money and custody assets.
As part of the administration, the administrators will carry out an assessment of the client money and assets held by the firm to confirm the current position. Following which, the administrators will continue the process of returning client money and custody assets to customers as quickly as possible. If the assessment of client money and assets results in Greyfriars clients not having all their money and assets returned, they may have access to the Financial Services Compensation Scheme, depending on their individual circumstances. All individual client money accounts have now been closed and all funds returned to clients.