We have cancelled the permissions of KBFS Financial Limited (KBFS), preventing them from providing any financial services.
KBFS failed to engage with us in an open and cooperative way. KBFS also failed to pay redress awarded to former members of the British Steel Pension Scheme (BSPS) by the Financial Ombudsman Service. Our final decision notice[1] sets out further details.
If you were advised by KBFS or its director, Kathryn Brown, to transfer out of the BSPS, or have an existing complaint about KBFS and/or Kathryn Brown with the Financial Ombudsman, please make a claim with the Financial Services Compensation Scheme[2] (FSCS). You don't need a claims management company or a solicitor to make a claim with the FSCS. They are independent and their service is free to use. You’ll keep 100% of the compensation you’re owed when you claim directly with them.
If you are a KBFS customer, you can discuss your investments with your investment provider or platform. You should also consider speaking to a new financial adviser or get free and impartial guidance from MoneyHelper[3].