Hamilton Rose: Man fears losing thousands after firm collapse

Steven Holmes said he was only made aware of the situation last month

A man fears he has lost thousands of pounds with the collapse of a company that was managing his pension.

Steven Holmes, who had £165,000 invested with Nottinghamshire-based Hamilton Rose Wealth Management, said he "felt sick" when he found out the money had gone.

The 62-year-old believes he is not the only client to be affected.

Financial Services Compensation Scheme (FSCS) said it had received 17 claims about the firm and was investigating.

"The last eight weeks have been absolutely horrendous. The worst weeks of my life," said Mr Holmes, who worked as an engineer at the same company for 36 years.

"I can't sleep. You are constantly worried about things that are out of your control.

"They have just dumped us. Left us like we are nothing.

"I have done my years of working in factories, doing nights, working weekends, all to make ends meet.

"I thought I had a good pension which would have given us quite a good living.

"But my future life has gone down the pan."

'Nothing left'

Mr Holmes, a grandfather of three from Rothwell, Leeds, said he had been looking forward to spending his retirement fishing three times a week.

He was informed Hamilton Rose, based in Edwinstowe, Nottinghamshire, had gone into liquidation a few days before his annual payment was due last month.

He has now submitted a claim for compensation but the maximum it is likely he can claim back is £85,000.

"I have nothing left to look forward to now," Mr Holmes added.

"I'm probably going to have to get a job again and start saving again. I've still got bills to pay."

The firm is believed to have vacated its office at Holly Farm in Edwinstowe in February

The FSCS said it was investigating whether the firm could cover the costs itself before they could pay out any compensation claims.

"We are still investigating the firm and have not yet declared it in default," a spokeswoman said.

"For FSCS to be able to declare a firm in default, we have to have at least one valid claim and also be confident that the firm isn't able to meet the costs of any claims itself.

"Once we are able to declare it, we can then review these claims case-by-case and may be able to pay compensation to these customers."

The Financial Ombudsman Services (FOS) said they had only received a few complaints against the company, which were connected to the suitability of advice being offered.

Both organisations urged any other customers who are in a similar position to Mr Holmes to get in touch.

The Companies House listing for Hamilton Rose Wealth Management shows a First Gazette notice for compulsory strike-off from the end of this month, which means it is in the process of being removed from their register and will no longer legally exist.

Its website has also been taken down and the landlord of their registered offices in Clipstone Road, Edwinstowe, confirmed they had left the building in February.

The BBC has approached the insolvency practitioners acting on their behalf for a comment.