Former Nexus Independent founder Kerry Nelson has been declared bankrupt, official records show.
The Gazette has been updated to show a bankruptcy order for Kerry Kathleen Nelson, as at November 2023, 'occupation unknown', of Stroud Green Lane, Fareham.
The filing was made in the county court at Portsmouth.
A spokesperson for the Official Receiver's office at the Insolvency Service told FT Adviser: "Kerry Nelson was confirmed bankrupt on November 2, 2023."
As reported last year by FT Adviser, Nexus Independent Financial Advisers and Nexus Investment Managers, of which Nelson was the sole proprietor, entered administration and were put up for sale after the FCA placed restrictions on the firms.
This followed a note from the City watchdog in January, in which the FCA said it had very serious concerns about the conduct of the firms and is concerned that the firms’ sole director may have deducted sums from clients without authorisation or without their knowledge.
The FCA register states that Nexus Independent Financial Advisers Ltd "applied to cancel" its authorised status in July 2023.
According to Companies House, Nelson incorporated two other companies on November 30, 2022.
These are: Nelson's Column, which is involved in 'other publishing activities'. Its confirmation statement, which was due on December 13 2023, is now overdue.
The second is Nexus Platform Limited, which is described as "activities auxiliary to financial intermediation not elsewhere classified". According to Companies House, its confirmation statement is also overdue.
The company's registered office address for Nelson's Column is in Stroud Green Lane, Fareham. This is a residential address.
According to Rightmove, that house was sold on July 14, 2023 for £887,500. This represented a 48 per cent increase in value from the previous purchase in July 2013, when it was bought for £600,000.
As reported in 2023, Business recovery firm Portland Leonard Curtis confirmed that Nexus Independent Financial Advisers (IFA) and Nexus Investment Managers (IM) were sold to Vintage Wealth Management Limited on March 9.
Portland Leonard Curtis was contacted regarding the bankruptcy order. Attempts have been made to contact Nelson but no responses have been made as at time of going to press.
Note:
Nexus Independent Financial Advisers and Nexus Investment Managers are in no way associated, affiliated or have any connection with Nexus Global IFA Network or Blacktower Financial Management Group.
