Reeves Financial files for bankruptcy

Hamilton, ON, Canada / AM900 CHML

One of the higher profile financial planning firms in the area has gone bankrupt.

Reeves Financial Services has filed to bankruptcy leaving almost 420 thousand dollars in debts and listing about 27 thousand dollars in assets.

The firm at one time listed offices in Hamilton, Burlington, Kitchener and Toronto.

There’s no indication that owner Scott Reeves has filed for personal bankruptcy.

The Financial Services Commission of Ontario says people who bought insurance through Reeves Financial should check with the insurance company issuing the policy to be sure their coverage is unaffected.

It adds if they placed investments through Reeves, they should seek legal advice.

(Hamilton Spectator)

Comments

  1. History repeats it self. I remember in the 70′ there was the Prudential that went under. Taking all the pensions money that people had with them. They left the old people with out nothing. One person I well remember then lost 30 thousand dollar with them. It is terrible how they are not having coverage for liability towards their clients. And one must think before by anything . We every day people think because some one is in business can be trusted. I, really do not know why we think that, it was long ago that people who were in business usually were independent mom and pop shops and they were conscientious law abiding people. Remember now we live in a corporate world where no one is responsible for anything. It is a non existing body of phantom entity.

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