Change of business entity from Gem & Co Financial Services LLP (Company number OC331457) to Gem & Co Financial Services Ltd (Company number 13249508)
We are delighted to inform you that to support our future plans for business growth we will be making a change to our business structure by transferring the business of the LLP to a new Financial Conduct Authority (FCA) authorised business, St George’s Financial Ltd.
We are in the process of changing the name of this new limited company to Gem & Co Financial Services Ltd, which will be done in time for completion on the 1st November 2021.
From this date we will become a limited company and will be known as Gem & Co Financial Services Ltd.
What does this involve?
- All our client agreements and arrangements will be transferred from the LLP to the new limited company.
- All our client data will be transferred from the LLP to the new limited company.
- All our current staff will transfer from the LLP to the new limited company.
Will I notice any change?
You will experience no change in the service you receive from us. The current terms you are on within the LLP will be transferred without any change.
All our current team and support systems will transfer over to the limited company which means all your existing relationships will stay the same.
There will be no change in terms of your regulatory protection. As with our current company, Gem and Co Financial Services Ltd is fully regulated by the FCA. All prior advice responsibility given by the LLP is being carried over the new limited company. This is a fundamental part of the permission given to us by the FCA. Our new FCA number will be 949148.
What happens next?
The vast majority of work will be carried out by us behind the scenes.
We will transfer your data to our limited company at the end of this month. This will be done in a secure and efficient way with our IT partner. You are entitled to object to this transfer, should you wish (although we hope this will not be the case).
We will (as part of our normal advisory process) issue you with a new terms of business document in the name of the new limited company over a regular 12-month cycle commencing from 1st November 2021.
Queries
Should you have any queries or concerns regarding this email, please do not hesitate to contact me either by email at dean@gemfs.co.uk or call me on 020 8543 0111.
We celebrated our 22nd year as a business in May this year and we would like to take this opportunity to thank you for your support in helping us to achieve this milestone. We look forward to continuing our relationship with you and providing you with the highest standard of financial planning and advice.
