Channel One Financial Planning LLP also trading as Channel One Financial Services was a financial advisory firm based in Birmingham. It has been authorized by the Financial Conduct Authority since 2011. Channel, which has gone into liquidation since January 2021 was one of the firms associated with claims linked to the British Steel Pension Scheme (BSPS). BSPS members who received negligent advice from the firms fortified benefits already built up in the BSPS. The transfers from BSPS collectively worth about £2.8 billion. The Financial ConductAuthority intervened after concerns were raised about the propriety of the transfers.
As a result, most of the advisory firms, involved in the British Steel scandal stopped their transfer advice service, while others went out of business. After meeting with the steelworkers, the FCA estimated that 1,400 workers will receive £71.2 million in redress.