Active Wealth (UK) Limited was a financial adviser firm largely involved in the British Steel Pension debacle.

Active Wealth incorrectly advised a large number of clients to transfer out of their British Steel pensions and has since closed down following FCA intervention. Claims against the firm are now being dealt with by the Financial Services Compensation Scheme (FSCS) which has paid over £ 12.5 million in compensation to clients who have received advice from the firm.

The majority of these clients were introduced to Active Wealth by an unregulated introducer named Celtic Wealth, the director of these companies is synonymous. Active Wealth then advised the client to transfer their British Steel Pension into another scheme with investments such as New scape Global, these investments had extremely high redemption charges for the first 5 years of the investment.

As a result of this, the Financial Conduct Authority intervened and suspended Active Wealth’s permissions in 2017, following this several claims were lodged against the company which eventually led to its demise.