Wine Name:

Thursday, 2 June 2016

Banned directors - Guy Hemphill and Nick Stein – start up Hillgate Associates LLP



Guy Francis Hemphill (DOB: 22.3.1966) and Nicholas Martin Stein (DOB: 24.2.1956) banned from being company directors due to Land Heritage (UK) Ltd a failed land banking scheme.  Ban runs from 12th May 2010 to 11th May 2017.

Despite being banned directors they have set up Hillgate Associates LLP (incorporated 5th May 2015), which has two branches –  Ebury Wealth and wine-traders. 

Ebury Wealth: 

Ebury Wealth – business and personal financial solutions 

'Additionally, Ebury is able to offer financial solutions for personal financial planning. This could range from Tax Planning to starting a SIPP. Where appropriate this draws on Ebury’s connectivity to the Wealth Management and IFA community, working with IFA’s regularly featuring in the New Model Advisor Top 100. Our financial advisors are selected not only on their investment expertise but also based on approach and attitude, to ensure that we can provide a perfect fit for our clients.

Whether you are looking to generate and sustain wealth creation in your business or to consolidate personally with financial or investment advice, Ebury Wealth offers a holistic personalised approach across a full range of financial service goals.'

Important disclaimers on Ebury Wealth site: 

'Ebury Wealth accepts no responsibility or liability for loss which may arise from accessing or relying on information or ideas contained within this site or provided by a third party as a result of an introduction from Ebury Wealth. Ebury Wealth is not authorised by the FCA and does not offer investment advice.'

' (sic) is an independent marketing website which only acts as an introducer to companies who offer Financial Advice. Companies on our network are authorised and regulated by the Financial Conduct Authority. are not authorised to give any advice and we are not liable for any financial advice provided by, or obtained through a third party.'

'personal financial solutions' – 'not authorised by the FCA and does not offer investment advice'
I'm a little confused here. Ebury Wealth LLP claims to offer personal financial solutions but is not authorised or regulated by the FCA (Financial Conduct Authority) and doesn't give any financial advice. If it really doesn't give financial advice how then can it offer 'personal financial solutions'?   

Wine Traders 

'Wine Traders was formed by a small team with both financial qualifications from the Chartered Institute for Securities & Investment (CISI) and wine qualifications from Wine & Spirits Education Trust (WSET). Our vision is to enable investors who have an interest in laying down fine wine to do so with greater transparency and better prices.'

Curiously no mention that the two officers – Guy Hemphill and Nick Stein – were directors of collapsed UK Heritage (UK) Ltd and are currently banned from being directors from 12th May 2010 to 11th May 2017.

NB: Wine Traders has no connection with Winetraders (UK) Ltd established in 1998. 

It is extraordinary that two banned directors – Guy Hemphill and Nick Stein – can set up an LLP offering wine investments and 'personal financial solutions'! 

I'll certainly steer well clear of Hillgate Associates LLP, Ebury Wealth and Wine Traders.

21st July 2016 – Update
Nicholas Stein resigned as an LLP Designated Member on 1st July 2016. Guy Hemphill and Stein have applied to have the
Hillgate Associates LLP struck off from Companies House Register. 

11th February 2019 – update
Hillgate Associates LLP was dissolved on 20.10.2016 – voluntary strike-off. 

Guy Hemphill has written a detailed account of the events surrounding Land Heritage Ltd – its founding, philosophy, liquidation, settlement with law firm on advice given following action taken by the liquidator:

See note on CreditMan:
'The company has been in liquidation since December 2006 after the FSA intervened to stop the company trading as it was operating an unauthorised collective investment scheme by offering plots of land to the public under a land banking scheme. Since then the liquidators have successfully won damages from its former advisors which have enabled them to look to make a payment to the unsecured creditors, including plot holders who agree to return the plots of land to the company.'