The Financial Services Compensation Scheme has today declared a West Sussex Financial Planning firm with seven trading names as failed.
The move opens the door to clients of the firm, Global Financial Limited - formerly Graeme Blair Financial Planning Limited (FRN: 134496), to claim compensation from the FSCS if they have valid claims.
The FSCS told Financial Planning Today it has so far received three claims against Global Financial Limited (formerly Graeme Blair Financial Planning Limited), relating to Life Distribution, Pensions and Investment Intermediation. One claim has been upheld, triggering the firm’s declaration of default.
The FSCS is a consumer compensation scheme funded by an industry levy and steps in when regulated firms fail.
The firm was long established and originally incorporated in 1967, going through several trading name changes. According to FCA records, 41 regulated individuals worked for the firm during its lifetime. In recent times the firm had about six or seven people working for it.
The firm was listed as based at Global House, Daux Road, Billinghurst, West Sussex RH14 9SJ and went into liquidation in 2025. It was dissolved in April this year.
A liquidator’s report suggests the firm has only £200 to meet the claims of preferential creditors and owes money to other creditors, including directors and HMRC, which is owed £27,786 for Corporation Tax.
The company has an estimated total deficiency of £174,429.
Until it failed, the firm had seven trading names including Global Group, Imagine, Professional Financial Services, Medics Independent Financial Advice, g money and Global Financial Limited.
According to FCA records the firm previously used other trading names including Graeme Blair (Life & Pensions Brokers) Limited and Graeme Blair Financial Planning Limited.
The firm also acted as a host company to seven appointed rep firms.
The FSCS has been asked by Financial Planning Today for further details about the failure.
In October the FSCS declared seven regulated firms as under investigation or failed including City of London-based wealth manager Bullseye Financial Ltd, which has gone into administration. Bullseye Financial Ltd (FRN 939395) had been authorised by the FCA since 2011 and served professional investors, according to the FCA.
The firm offered a range of investment services, including discretionary portfolio management and 'ready made' portfolios. It also appeared to offer immigration and visa services.