Cambrian Associates Ltd (FRN 158976), an adviser firm based in North Wales, has gone into administration 51 years after being set up.

Dean Watson and Paul Stanley of Begbies Traynor were appointed as joint administrators on 11 June.

The administrators said the firm remains authorised and regulated by the FCA despite its entry into administration.

The firm’s regulated business and assets, including client book, were sold to Flintshire, North Wales firm HCI Financial Services Limited (FRN 197342) on 11 June.

Cambrian, based in Hawarden, Flintshire in North Wales, near Chester, advised on and arranged deals in mortgage contracts and investments, including defined benefit pension transfers.

It had been founded as Cambrian Investments in December 1973 by former teacher Roger Taylor.

According to the company’s website: “Roger and wife Norma, financial director at Cambrian, play an active part in the day to day running and continued growth of the business.”

It added: “Cambrian is a family business – Roger and Norma’s son, Jack, is an adviser and director at Cambrian and their daughter Sally is also a director in the firm.”

Companies House records show that the business was incorporated in April 1990 and that Jack Taylor resigned from the firm in November 2020 while Sally Beare resigned in August 2019. Roger Taylor, aged 80, is still listed as managing director of the firm.

According to the FCA Register, it gained authorisation in December 2001 and also traded under the name Cambrian Chartered Financial Planners between January 2015 and November 2021.

Its last accounts were published in August 2024 and showed that the business was £669,454 in debt, almost double the previous year’s debt of £342,019.

The FCA said: “Cambrian remains subject to supervisory oversight and our rules. We are working closely with the Joint Administrators.”

It added: “HCI will be writing to clients soon to explain what this means for them. Clients should not be affected by the administration of Cambrian.”