Financial adviser HDH Investment Services Limited (HDH) has entered Creditors’ Voluntary Liquidation three months after the FCA intervened over concerns the company may have given unsuitable advice to some clients potentially resulting in financial loss.
Dina Devalia and Tom Parish of Quantuma Advisory Limited were appointed as joint liquidators on 16 April.
On 20 January, HDH agreed to stop carrying out any regulated activity because the FCA was concerned that HDH may have given unsuitable financial advice to some investment and pension customers, potentially leading to financial loss.
HDH Investment Services Limited (HDH) (FRN: 733137) advised on and arranged deals in investments and pensions and was authorised from 2016.
HDH remains subject to FCA supervisory oversight and the watchdog is working closely with the joint liquidators, it said.
The FCA said in a statement: "We are aware some investors may have received unsuitable advice and are concerned about investments and pensions they have bought via HDH. The joint liquidators will be writing to you shortly to explain what to do if you are affected.
"If you do not hear from the joint liquidators or have more questions about your investment or pension, contact the Financial Services Compensation Scheme or the joint liquidators."
FCA agreed restrictions from 20 January meant HDH ceased carrying out all regulated activities. HDH also agreed to stop giving investment advice and was unable to hold and control client money.
The regulator at the time said HDH also agreed to write to all customers to explain what the restrictions mean for them.
On its website, HDH said: “The FCA has published restrictions on certain regulated activities that we are permitted to undertake in the UK. As a result, HDH Investment Services Limited is currently unable to carry out restricted activities, e.g., advising on investments, arranging deals in investments, until such time as those restrictions are lifted or varied by the FCA.”
HDH was based in Westminster in London.
Customers of HDH can contact the joint liquidators, Quantuma, on:
- Helpline: 07469 278 739
- Email:
This email address is being protected from spambots. You need JavaScript enabled to view it. - Website: www.quantuma.comLink is external
- Address: 7th Floor, 20 St Andrew Street, London EC4A 3AG