Pi Financial Ltd
Reference number: 186419
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Authorised by the FCA
This firm is on the FCA register and authorised to carry out regulated activities.
Identity
Check their details
Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.
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Verified website
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Verified phone number
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Verified address
Morfe House, Belle Vue Road, Shrewsbury, Shropshire, SY3 7LU, United Kingdom
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Company details
From the company's Companies House record.
- Company number
- 03556277
- Company status
- Active
- Company type
- Private limited company
- Incorporated
- 27 April 1998 (28 years old)
- Registered office
- Morfe House Belle Vue Road, Shrewsbury, SY3 7LU
- Nature of business
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- Other activities auxiliary to insurance and pension funding (SIC 66290)
Current directors and secretaries
| Name | Role | Born | Appointed |
|---|---|---|---|
| Timothy Edward Sutcliffe | Director | Jan 1955 | 12 May 1998 |
| Keith David Hansell | Director | Feb 1970 | 3 Oct 2011 |
| Toni Roxanna Sheen | Director | Jan 1984 | 1 Jan 2023 |
| Ben Howard Wright | Director | Feb 1982 | 6 Oct 2023 |
| Toni Roxanna Sheen | Secretary | Not published | 6 Oct 2006 |
Activities and protection
What they can do, and how you are protected
- Give regulated advice FSCS may applyA 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 applyEligible 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 applyMortgage advice and arranging may be FSCS-covered, up to the limit that applies.
- Lend or arrange credit No FSCS coverConsumer credit is not covered by the FSCS, so there is no compensation scheme if the firm fails.
- Claims management No FSCS coverMoney you pay a claims company is not FSCS protected, but FCA rules cap what it may charge you for a financial services claim. Complaints about this firm go to the Financial Ombudsman Service free of charge.
Show FCA detail (17 permissions)
- Acting as a CBTL advisor
- Acting as a CBTL arranger
- Advice, investigation or representation in relation to a financial services or financial product claim
- Advice, investigation or representation in relation to a personal injury claim
- Advising on a home reversion plan
- Advising on investments (except on Pension Transfers and Pension Opt Outs)
- Advising on P2P agreements
- Advising on Pension Transfers and Pension Opt Outs
- Advising on regulated mortgage contracts
- Arranging (bringing about) a home reversion plan
- Arranging (bringing about) deals in investments
- Arranging (bringing about) regulated mortgage contracts
- Credit Broking
- Debt-counselling
- Making arrangements with a view to a home reversion plan
- Making arrangements with a view to regulated mortgage contracts
- Making arrangements with a view to transactions in investments
Limits on what they may do
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Limitation of claims management activities
Requirement 1 In order to avoid any possible conflict of interests, Pi shall not provide Relevant Services to a customer where the Claim arises from, or is otherwise connected with, advice that Pi provided to, or arrangements that Pi made for, that customer to buy the financial service or product which is the subject of the Claim. Requirement 2 Where a Claim arises from, or is otherwise connected with, advice that a Relevant Employee provided to, or arrangements that a Relevant Employee made for, a customer: (a) in relation to the financial service or product which is the subject of the Claim; (b) while that Relevant Employee was not employed by, or otherwise acting on behalf of, Pi, neither Pi nor the Relevant Employee shall receive a fee for providing Relevant Services to that customer in relation to that Claim, other than a fee, which may be received by Pi but not the Relevant Employee, to cover the costs to Pi of providing the Relevant Services. Where a Claim arises from, or is otherwise connected with, advice that a Relevant Employee provided to, or arrangements that a Relevant Employee made for, a customer: (a) in relation to the financial service or product which is the subject of the Claim; (b) while that Relevant Employee was not employed by, or otherwise acting on behalf of, Pi, neither PI nor the Relevant Employee shall charge a fee for providing advice to, or making arrangements for, that customer to invest any money received by that customer under that Claim. Provision of Information For the avoidance of doubt, a Relevant Employee is not hereby prohibited from sharing with Pi any information that the Relevant Employee considers necessary to allow Pi to provide Relevant Services to a customer, including information that the Relevant Employee may have gained at a time when the Relevant Employee was not employed by, or otherwise acting on behalf of, Pi. Definitions In this application: “Claim” has the meaning given to it in section 419A(3) of FSMA; “Effective Date” means the date described in paragraph 6 below; “FCA” means the body corporate previously known as the Financial Services Authority and renamed on 1 April 2013 as the Financial Conduct Authority; “FSMA” means the Financial Services and Markets Act 2000; “Pi” means Pi Financial Ltd, the authorised firm with firm reference number 186419; ”RAO” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) as amended by SI 2018/1253; “Relevant Employee” means an employee or third-party contractor of Pi; “Relevant Services” means services the provision of which amount to the carrying on of the regulated activity specified in article 89I of the RAO.
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 2012. This is part of the official register record and is worth reviewing before going ahead.
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Fined on 4 October 2012
The FSA imposed a penalty on the Firm for breaches of Principle 3 and Principle 9. The breaches related to failings by the Firm relating to its systems and controls and the suitability of its advice to clients. Pi failed to take reasonable care to organise and control its affairs responsibly and effectively with adequate risk management systems. In particular, Pi failed to: implement adequate internal sales monitoring procedures across the Firm that ensured that advice was given in accordance with regulatory requirements provide adequate training and supervision to its advisers: and establish and maintain adequate compliance and file checking arrangements, appropriate to the size and types of business conducted by Pi, particularly given the high risk products that Pi sold. Pi also failed to take reasonable care to ensure the suitability of its advice to clients. The FSA has reviewed a sample of 28 files transacted between 1 January 2009 and 3 February 2012 involving high risk products and found that 14 of the files were unsuitable. Pi entered in to a voluntary variation of permission on 23 July 2012, whereby it agreed to cease the promotion or arrangement of investment in unregulated collective investment schemes (UCIS), save where the client is already invested in a UCIS. As part of the Settlement Agreement dated 30 August 2012 Pi agreed to comply with a series of undertakings relating to training of its advisers and file-checkers, improvements to its file-checking processes and a customer contact exercise. The Final Notice, which sets out the reasons for the action, can be found at the following link.
Previously registered as
The FCA register holds one earlier registered name for this firm. A registered name changes when a firm rebrands, and a partnership's changes whenever its partners do.
- Dixon Sutcliffe & Co Ltd
Names it no longer trades under
This firm has retired 131 trading names. If you were contacted under one of these, the name did belong to this firm, but check the current details above before going ahead.
Show the retired names
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Common questions
Frequently asked questions
Is Pi Financial Ltd FCA authorised?
Yes, Pi Financial Ltd (FRN 186419) is authorised by the FCA to carry out regulated activities.
Is my money safe with Pi Financial?
It depends on the product, but eligible claims may be protected by the FSCS. You can also refer complaints about Pi Financial to the Financial Ombudsman Service, free of charge.
Is Pi Financial a scam or clone?
Pi Financial is a genuine FCA-listed firm. However, scammers sometimes clone authorised firms. Always check that the contact details you were given match those on the FCA register before sending money or sharing information.
What is Pi Financial's Firm Reference Number (FRN)?
Pi Financial's FRN is 186419. You can verify it on the FCA register.