Most former Reyker clients get 80% compensation
By
Jean-Baptiste Andrieux
13
th April 2021
3:40 pm
Most of the 11,500 former clients of collapsed wealth management firm Reyker Securities plc have regained access to their assets.
An update from the Financial Services Compensation Scheme reveals how the settlement came about.
It says close collaboration with joint special administrators at Smith & Williamson returned the assets quickly.
Since the end of January 2021, Smith & Williamson and Reyker have been transferring the assets of their former customers to new nominated brokers.
So far up to 90 per cent of these assets have been either transferred or instructed for transfer.
This represents slightly more than 80 per cent of the customers’ total holdings.