Long-established London Financial Planning firm Strabens Hall Limited (FRN 461795) has gone into administration with clients transferred to a rival business and staff transferred to a connected business.

The firm offered advice on a range of products including retirement, pensions and estate planning.  

It had offices in London and France with its head office in Soho, close to Oxford Street in central London.

According to the FCA register it received authorisation in March 2007. On LinkedIn the firm describes itself as “an independent fee-based wealth advisory business.”

As recently as two weeks ago it was still appointing staff, according to a LinkedIn post from the firm. But on 10 September it was placed into administration by Umbra Finance Limited with Gary Shankland and Robert Ferne, both of Begbies Traynor (London) LLP, appointed as joint administrators.

The joint administrators sold Strabens Hall’s regulated business and assets to Exeter-based Hybrid Advice Central Limited (FRN 711110) on 10 September. As part of the sale, Strabens Hall's clients were transferred to Hybrid. 

On the same day, the joint administrators sold Strabens Hall’s non-regulated business and assets to D’Arblay Wealth Limited, which is a trading name of Hybrid Advice Central Limited. As part of the sale all staff, excluding the directors, were transferred to Hybrid.

According to the FCA Register, Hybrid Advice Central Limited has been authorised since January 2016 but its trading name was only registered on 19 August this year.

The firm has been trading under the name D'Arblay Wealth since 9 September, the day before the transfer of staff to the firm from Strabens Hall. It has also been trading under the name HybridAdvice since 10 September, the day it took over the business and assets of Strabens Hall.

On its website Hybrid Advice says: “Hybrid Advice offers a unique partnership model for independent financial advisers. We provide our IFA partners with access to flexible capital, as well as a full suite of back office, administration, compliance, training and due diligence support.”

Most clients should not be affected by the administration of Strabens Hall, according to the FCA. However, clients with regulated or unregulated products may wish to contact Hybrid Advice Central Limited for more information.

Hybrid Advice should be writing to clients soon to explain what the changes mean for them.  

On its register The FCA warned about Strabens Hall: “This firm is in an insolvency process. It is under the control of the appointed insolvency office holder(s) and may have stopped taking on new business. It remains authorised and has to continue to meet our regulatory standards, including when dealing with its customers.”