#Investors-Group: News
Financial Conduct Authority declares Beaufort Securities insolvent
I was scanning my news feeds earlier and came across this story I thought I would share with you.
Beaufort Securities has been declared insolvent by the UK’s financial watchdog.
Credit to cityam for the content in the following article.
For the ones that that may have missed this story, here is the link...
http://www.cityam.com/281556/pwc-appointed-adminstrators-beaufort-securities-fca
Credit: cityam
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.
Credit: cityam
Thanks for reading.
Stephen
Disclaimer
Please note that the above information is for educational purpose only and is not to be taken as investment advice.
And these brainwashed sheep keep saying cryptos are risky and not suitable for retirement. HA!
The legacy financial system has been. and still is. one giant, derivative-laden fraud machine propped up by the central bankers.
That's really sad to know that 700€million is insolvent by the @Beaufort Security which is the long hard worked earning of people who spend their entire life to save and invest their pension and fund in securities..I hope they will get back their fund back though its seem challenge and will take time...This is why I think it better to invest on cryptocurrency now as it has bright future...@stephenkendal
This is terrible for a city broker firm that had started making a good reputation for itself. Am glad the customers have been considered with high priority amidst all this. Lets watch and see the persons identified by the high court have to offer. They need to go back to the drawing board to protect the assets from dissipation. At the moment, customers need to be settled, something they are entitled to. And I've already seen all this is in the process as customers have been asked to assign their legal rights in relation to their claims.
This will ultimately turn out to be another feast for the administrators at the client's expense...
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.
that's really sad to know this any will be a very big problems for thise had invested and now there all money insolvent i know noone of there must be even dreamed about it .... it's there biggest nightmare they ever had... government need to do something about this insolvent and also organize any kind of compassion for the invester in my point of view @stephenkendal
ohh really sd to hear about such huge amount..
its really a big amount and cryptocurrency is the great source of saving our money .. @stephenkendal
I am very scared by hearing such sad news where people lost their long life investment...Seafort Security has spoiled life of 20000 people in the road and kill their dream...It is very hard whether they will get their fund back as if is decraled insolvent...This just insane...I wish they could have invested in future cryptocurrency market which is now safe and promising @stephenkendal...I hope they can recover their investment
its really great to hear about that great security and yes its very great news for the crypto investors and you have really great conveyancing power i may must say..
thanks for updating us with latest news sir @stephenkendal
That's really sad to here.Its a big loss of poor people who save their money day and night and through thick and thin.I hope they will get their money back :)
ohh what will be happned will all them who and the 700 million euro is really a biggest amounts and the amount of all them who think it thier savings and the invest of thier next life with thier pensions
hope this will solve and every one will get thier right
Oh, that's really sad news for all invester Up to 20,000 clients have invested in products its not right that's sooo huge amount. hope so its good for any invester and who interested in this way...
I think cryptocurrency is best rather than other way of any source
This is simply people being robbbed off their precious earning and saving money. This is a thieft, people sould invest here and earn,steemit is a good places where there is little chance of loss.
wonderful explanation sir, great work done .... :)
Great post..Loved the amazing information it is really sad news..@beaufort has done that is which is really sad that it have reach 20,000 clients have invested in products such as ISAs and Pensions and are owed around £700m..It has also made many people life in vain when it goes ver low..The people must be really sad i understand there feeling and it should not fall to this level..thanks for sharing this and i really disappointed in @beautfort ..@stephenkendal
That is extremely dismal to realize that 700€million is wiped out by the @Beaufort Security which is the long hard worked procuring of individuals who spend as long as they can remember to spare and put their benefits and reserve in securities..I trust they will get back their store back however its appear challenge and will take time...This is the reason I think it better to contribute on digital currency now as it has splendid future...@stephenkendal
Informative, though looking at the facts and figures investing there may not be a bad move.. recovery they are making that’s the main point about it
£700m is not a small amount and especially for the pensioners and poor people who invested in it thinking of a better future and getting something in return.its heart breaking and shocking for those people who had invested their hard earn money with their sweat and blood, that just goes to show how much it’s risky to invest cause anything can happen . @steemit is the only platform which i think has a secured and sure future so people need to invest here more and people schold know about it and be encouraged to spend here @stephenkendal thanks for sharing this news which is sad but also its just shows our future is secure here cause it has been more than a year since steemit has estb and is doing very well. Continue your @promo-steem work and people who are real investors who will be rewarded for their work and investement can come here. Keep it up in doing what you do best.
wow very nice excellent post
you presented a good post and i like to read your informative post.... i impressed to see it....
well its really amaized to listen that up to 20,000 clients have invested in products and but what type of products and whats benefits they will get in future of these big investment
is this increase the price or not @stephen?
but one thing is i really like that you give your disclaimer and say every one to invest thier own risk and just share for information not suggest for any investment and sure every one resposible of his own investment and thanx for every day share some new and informative stuff if you find some new
Dear Shencoin
The post is about the loss on investment made by retired people which was insolvent(Will not be recovered)by the @Beaufort...Its not
about products or investment...Kindly read the post properly...It a sad news for those who invested.
thanx you sir for this new news and information if i say true i have no any knowledge on it but hope this news and information give some one benefits who are intrested in it
you always share some new things and new knowledge with us here in steemit and also on twitter and i am happy to see honestly efforts for all of your followers and share some unique always
keep it up always and give us your best knowledge @stephenkendal sir
Well first of all thanks a alot for this investment advice, this is o true that UK has always it's policies different than the rest of the world specifically in terms of business. But it is also an admitted fact that UK is known as the most influential market of investment in the world.
Thanks a lot the great brain of IDEAS Stephen for this wonderful advice :)
Terrible news to hear that 700€ is insolvent by @Beaufort . It even bad as @Beaufort had started making quite a name. Moreover its sad for the people who are going to suffer because of this. Lets hope they get there investments back. Feel really bad for them especially who had made it in pension.