UK wealth firm puts aside over £12 million for compensation

Henley-based Courtiers Investment Services’ latest accounts reveal that it has set aside £12,003,171 for the “payment of redress to clients”.

This means setting right, compensating or remedying detriment experienced by a consumer due to a “business failure or negligence”.

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This comes after a skilled persons review – an independent investigation – was commissioned at the firm.

Its results statement for the year ending March 2025 said: “The company has undertaken extensive work to identify the clients affected and to calculate the amount payable and a further Skilled Persons review was commissioned to agree the value of the redress.

“The total group provision representing the estimated amount of redress payable at 31 March 2025 amounts to £13,106,203, including interest but net of recoverable VAT.

Hart Street in Henley (Image: Ballards)

“Of this sum £12,004,171 is attributable to this company and has been incorporated within these financial statements.”

Based in Hart Street, Henley, City Wire has reported that this represents a significant increase from the £3 million the group had allocated the previous year.

This comes after Courtiers Investment Services voluntarily agreed to a Financial Conduct Authority order to stop taking on new business.

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This agreement happened in 2024 with the firm saying it had done so while it consolidated its acquisitions which included Dorset adviser Snowdon Financial in 2019.

The business did not respond to a request for comment, and it remains unclear when the restrictions will be removed.

In its statement the directors of the firm stated that they consider the financial position of the firm “healthy”.