Bullseye Financial Ltd (FRN 939395) had been authorised by the FCA since 2011 and served only professional investors, according to the FCA.
The reasons for the failure have not been disclosed.
The firm offered a range of investment services, including discretionary portfolio management and 'ready made' portfolios, and also appeared to offer immigration and visa services.
The firm either managed investment portfolios for professional investors within agreed limits or carried out their instructions to buy or sell investments without giving investment advice, the FCA said.
On 11 March, Bullseye Financial, which is based in the City of London, agreed to a voluntary requirement to stop carrying out any regulated activity.
The FCA said that Bullseye Financial had also provided some services to clients of HDH Investment Services Ltd which entered liquidation on 16 April.
The Financial Services Compensation Scheme today placed Bullseye Financial under investigation and has already been investigating HDH Investment Services. The FSCS said it was not open to potential customer claims against Bullseye.
Customers of Bullseye Financial can contact the joint administrators on:
- Phone: 02074 031877
- Email:
This email address is being protected from spambots. You need JavaScript enabled to view it. - Website: www.azets.com/en-uk/bullseye-financial-ltdLink is external
- Address: Azets Holdings Limited, 5th Floor, 16 Great Queen Street, London WC2B 5DG.
The FCA has warned clients of the firm to be wary of fraudsters pretending to be from Bullseye Financial or claiming to be from the joint administrators and asking clients to pay money to get their money back.
The FCA has advised clients to only use the contact details above and ignore people claiming to be from the firm.