Appointed representative
This firm does not hold FCA authorisation of its own, and acts under a principal firm, which is legally responsible for its regulated business.
- Appointed for 15 years
- Protected through the principal
- No FCA actions
- Active company since 2011
- Accounts filed up to 31 July 2025
Responsible principal firm
2 Plan Wealth Management Limited Reference number: 461598 View firm →What does this mean?
- An appointed representative (AR) can carry out regulated financial services, but is not directly authorised by the FCA. A principal firm holds the authorisation and is legally responsible for the AR's conduct.
- Magnum Financial Solutions Ltd (FRN 543028) is an AR of 2 Plan Wealth Management Limited (FRN 461598). When you use Magnum Financial Solutions's services, the FCA authorisation sits with the principal firm.
- Example: if you take financial advice from Magnum Financial Solutions, complaints and compensation usually follow the same rules as dealing with the principal, but this depends on the product and your circumstances.
- Before you proceed, confirm contact details match the official FCA register for both firms. Scammers sometimes clone legitimate AR names and FRNs but use fake phone numbers and websites.
Website, phone number and address
Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.
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No website on the FCA register
-
Phone number
-
Address
Business First Centre, Empire Way, Burnley, Lancashire, BB12 6HA, United Kingdom
In the full report: 2 background checks
- What kind of line 01282 421022 is
- Who else gives the postcode BB12 6HA
Warning
Scammers have impersonated this firm
Fraudsters have used this firm's name or details with their own contact information to appear genuine. Check whatever you were given below, and against the firm's real details above.
Fake phone numbers (1)
- +44 208 638 108 11
Fake email addresses (3)
- info@fin-magnum.com
- servizio.clienti@fin-magnum.com
- support@fin-magnum.com
Fake websites (3)
- account.fin-magnum.com
- fin-magnum.com
- traderweb-pro.com
The FCA warning these came from
- Financial Magnum / fin-magnum.com 15 May 2024
Scammers change these details often. Always check the live FCA warning.
FCA permissions and consumer protection
- Protection through the principal firmProtection works through 2 Plan Wealth Management Limited, the principal firm responsible for this firm's regulated activity. FSCS cover and the Financial Ombudsman Service apply as they would to the principal.
- Complaints Ombudsman, freeYou can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.
FCA disciplinary action and complaints
No FCA disciplinary action.
The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.
The clone warnings above are scammers using this firm's name, not something the firm has done.
Companies House record
The company behind the firm: its status, age, registered office and directors.
- Company number
- 07553873 (opens Companies House in a new tab)
- Company status
- Active
- Company type
- Private limited company
- Incorporated
- 7 March 2011 (15 years old)
- Registered office
- Office 112a Business First Centre, Empire Way, Burnley, Lancashire, BB12 6HA, England
- Nature of business
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- Activities auxiliary to financial intermediation not elsewhere classified (SIC 66190)
Directors and company secretaries
| Name | Role | Born | Appointed | Other companies |
|---|---|---|---|---|
| Mark Damien Mcelhone | Director | Jan 1980 | 7 Mar 2011 | None |
| Cathy Mcelhone | Secretary | Not published | 8 Mar 2012 | – |
In the full report: every company its directors have run
- Confirmation that its director runs no other company
Filed accounts and finances
Net assets
£69.8k
+159% from £26.9k
Cash at bank
£86.5k
+168% from £32.3k
Employees (average)
4
Same as 4
Assets and liabilities
In the full report: all 4 years of accounts
- Every year from 2022 to 2025
- The chart, over every year
- Every filed figure, year by year
About these figures
- Turnover
- Money taken from sales in the year, before any costs.
- Profit before tax
- What was left after the year’s costs, before corporation tax. A minus figure is a loss.
- Net assets, or total equity
- Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
- Total assets and total liabilities
- Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
- Cash at bank
- Money in the company’s accounts on the last day of the year.
- Owed within a year, owed after a year
- Debts and bills due in the next twelve months, and those due later.
There is no turnover or profit: small companies do not have to publish them.
Accounts filed at Companies House for company 07553873. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.
Key dates in its history
Magnum Financial Solutions’s history from the FCA register and Companies House, newest first.
2024
11 July 2024
- Mark McElhone gave up control
Companies House
15 May 2024
- FCA warned the public about a scam impersonating this firm
FCA warning list
2018
26 January 2018
- Mark Damien McElhone took control (75–100% of shares)
- Mark McElhone took control (75–100% of shares)
Companies House
2011
14 March 2011
- Became an appointed representative
FCA register
7 March 2011
- Incorporated at Companies House
- Mark Damien McElhone appointed as a director
Companies House
Director appointments and resignations, and trading names, appear under All events.
Firms like Magnum Financial Solutions
Other firms of the same type (financial adviser), nearest first.
In Burnley
Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.
Get the full report on Magnum Financial Solutions
Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.
- Every company its directors have run, named
- 2 background checks on its contact details
- 4 years of accounts, charted
- All 7 events in its history
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Frequently asked questions about this firm
Is Magnum Financial Solutions Ltd FCA authorised?
What does appointed representative mean for Magnum Financial Solutions?
What is Magnum Financial Solutions’ phone number?
Is Magnum Financial Solutions a scam or clone?
Is my money safe with Magnum Financial Solutions?
Who owns Magnum Financial Solutions?
Who runs Magnum Financial Solutions?
How long has Magnum Financial Solutions been in business?
What do Magnum Financial Solutions’ latest accounts show?
Sources and links
- Its entry on the FCA register register.fca.org.uk
- Its Companies House record gov.uk
- FCA warning: Financial Magnum / fin-magnum.com fca.org.uk
- Complaints the Financial Ombudsman Service can help with financial-ombudsman.org.uk
- Report a scam to the FCA fca.org.uk