Corbel Partners Limited

Activities and protection

What they can do, and how you are protected

• Give regulated advice FSCS may apply
  A claim for unsuitable advice is itself FSCS-protected, up to the limit that applies to the product you were advised on.
• Manage or trade investments FSCS may apply
  Eligible investment and pension claims are typically FSCS-protected up to £85,000 per person, depending on the product and your circumstances.
• Advise on or arrange mortgages · Arrange equity release FSCS may apply
  Mortgage advice and arranging may be FSCS-covered, up to the limit that applies.
• Lend or arrange credit No FSCS cover
  Consumer credit is not covered by the FSCS, so there is no compensation scheme if the firm fails.

Check your FSCS cover →

Complaints: You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.

Track record

Action taken against them

1 fine in 2020, £107,200 in total. This is part of the official register record and is worth reviewing before going ahead.

• Fined £107,200 on 10 December 2020

  On 10 December 2020, the FCA has imposed a financial penalty of £107,200 on LJ Financial Planning Ltd. The reason for this action is because between 5 March 2010 and 6 December 2012 (“the Primary Relevant Period”), LJFP recommended that 114 customers transfer their pensions into SIPPs, without providing any advice on the underlying investments which were to be held in those SIPPs. The total amount invested in this way by LJFP’s customers was just over £6 million. In making a personal recommendation to a retail customer to establish a SIPP, LJFP was required to consider whether that recommendation was suitable, not only in the sense that a SIPP was a suitable vehicle for the customer in the light of his personal circumstances, but also that it was suitable in the light of the investments which were proposed to be held within the SIPP. In addition, LJFP was required to assess whether both the SIPP wrapper itself and the underlying investments proposed to be held within the SIPP matched the customer’s attitude to risk and capacity for loss as well as his knowledge and experience. During the Primary Relevant Period, LJFP failed, in breach of Principle 9 and certain rules of the Authority’s Conduct of Business Sourcebook (“COBS”), to take reasonable care to ensure the suitability of its advice for its customers who were entitled to rely upon its judgement in relation to the transfer of their existing pensions into SIPPs. Further, between 1 January 2013 and 6 November 2017, (“the Secondary Relevant Period”), LJFP failed, in breach of Principle 8 and certain rules of the Authority’s Systems and Controls Sourcebook (“SYSC”), to ensure that it identified and managed potential conflicts of interests fairly between itself and its customers and, where necessary, disclosed those conflicts of interest to its customers. As a consequence of these failings, the FCA imposed a financial penalty of £107,200 pursuant to section 206 of the Act. LJ Financial Planning Ltd agreed to resolve this matter and qualified for a 30% (stage 1) discount under the Authority’s executive settlement procedures. Were it not for this discount, the Authority would have imposed a financial penalty of £153,200 on LJFP. The FCA’s action took effect on 10 December 2020 and a copy of the Final Notice is displayed on the FCA's web site.

  Read the FCA notice →

Common questions

Frequently asked questions