Adviser helping elderly couple chase money after mini-bond firm goes off-grid

Professional Adviser | Nov 5, 2019 at 12:48 PM
  • IFS Wealth & Pensions director and Chartered financial planner Ricky Chan received a phone call out of the blue on 28 October from a Wales-based retired couple.
  • Trustee company Jade State Wealth briefly worked with the firm in late 2017 to early 2018 as its security trustee.
  • Ultimately, Jade State Wealth stopped working with Exmount because it could not pass its due diligence requirements, including providing professional references, a project list and a formal business plan, nor did it contribute capital in the firm’s name when asked to do so.