The UK Financial Services Compensation Scheme (FSCS) has confirmed that 12 firms were declared in default in the period from 1 December 2021 to 31 January 2022.
The firms declared in default have gone out of business and FSCS believes they are unable to meet any claims themselves. This means that any customers who are owed money by them can see how they are protected by visiting FSCS “What we cover” page.
If a regulated financial firm is no longer trading and cannot pay a customer’s claim, FSCS can step in to pay compensation.
Declarations by FSCS from 1 December 2021 to 31 January 2022:
- All Flintshire Credit Union Ltd (FRN 213641), Estate House, 26 High Street, Flintshire, CH8 7LH.
- Argent Wealth Limited t/a Orchard Financial Planners, Morley James Asset Management (FRN 515379), Evolve Building, Cygnet Way, Houghton le Spring, DH45 5QY.
- Channel One Financial Planning LLP t/a Channel One Financial Services (FRN 542078), Unit C12, Ledston Luck Enterprise Park, Leeds, LS25 7BF.
- Financial Planning Solutions (UK) Limited (FRN 453409), Richmond House, 65 High Street, Thornbury, Bristol, BS35 2AP.
- Foresight Financial Services Limited t/a Foresight (FRN 479805), 30 Dysgwylfa Sketty, Swansea, SA2 9BG.
- FT Stockbrokers Limited (FRN 477850), Unit A1/E, Crabtree Road, Thorpe Industrial Estate, Egham, TW20 8RN.
- Hamilton Rose Wealth Management Limited t/a Athena Wealth t/a www.theisaexpert.co.uk (FRN 650305), Holly Farm, Clipstone Road, Mansfield, NG21 9JD.
- Midland Independent Financial Services Limited formerly The Mortgage Shop (1977) Limited T/A (FRN 304129), 153 Avon Road, Cannock, WS11 1LF.
- PWH Financial Planning Ltd t/a WGN Wealth Management (FRN 506351), Victoria House, 14a Bradford Road, Leeds, LS20 8NH.
- PWM Advisers Limited (FRN 466612), 5 Green Lane, Cardrona, Peebles, Scottish Borders, EH45 9LJ.
- South Coast Trade Centre Limited (FRN 452440), 10 East Street, Fareham Hants, PO16 0BN.
- The Energy Advisory Centre (UK) Limited (FRN 679388), 1st Floor, 24 Blythswood Square, Glasgow, G2 4BG.
FSCS declared 16 financial services firms in default in October and November 2021. This compares with 12 firms declared in default in August and September 2021, including FX and CFD broker AFX Markets.