FSCS declare 30 firms in default – SIPP providers, IFA’s and DFM’s

The Financial Services Compensation Scheme (FSCS) declared 30 failed regulated firms between 1st November 2019 and 31st January 2020.

With this in mind, consumers could be in line for compensation and get back money that was lost due to their dealings with any of the following firms (listed below).

North West: J.B.Wilcock Insurance NFS Mortgages Limited

Yorkshire and the Humber: Consumer Wealth Limited

Phoenix Financial Associates Limited

East Midlands: Benson McGarvey Murdoch Elite Insurance Company Limited Horizon Stockbroking Limited

West Midlands: Adams Russell Limited Anthony Feeney and John Bland t/a Anthony Feeney Financial Services BlackStar Wealth Management Limited Hyrifa Limited t/a Save My Pension, formerly Trueway Finance Limited

Transglobe Investments Limited

East of England: J.Day (Chelmsford) Limited t/a Days Of Chelmsford

Greater London: London Capital & Finance Plc NJ Associates Financial Services Limited Metropolis Motorcycles Limited Re-financial Planning Limited Sigma Financial Management Limited

South East: CPI Services Limited Facts & Figures Financial Planners Limited

South West: Avalon Investment Services Limited CGFM Limited Parklands Wealth Limited

Wales: Brixham Finance Limited formerly Lerwick Financial Solutions Ltd and Lerwick Financial Solutions PLC Economic Financial Solutions IFA Limited t/a Torch Wealth Management

Scotland: Innovative Financial Services Limited t/a Gorcades Ltd Park Caledonia Capital Limited

Northern Ireland: JAS Financial Services Limited

Gibraltar: Quick-Sure Insurance Limited

As the UK’s statutory compensation scheme, the FSCS protects customers of authorised financial services and with a declaration of default means that the FSCS is satisfied that a firm is unable to pay claims for compensation made against them.

This now paves the way for customers to make a claim for compensation through the FSCS and since 2001 they have helped more than 4.5m people paying out more that £26bn in compensation.

Jimmy Barber, Chief Operating Officer at FSCS, said: “FSCS provides protection when firms fail, reassuring people and enabling them to buy regulated financial products with confidence."

Information in this article was originally sourced from https://www.fscs.org.uk/media/press/2020/mar/30-failed-nov-to-jan/

If you would like to discuss a potential claim or have any questions regarding the firms above, please give us a call on 01903 868251 or get in touch through our website https://www.theclaimsbureau.co.uk/ and one of our team will get back to you.

We offer a NO-WIN-NO FEE contract and will conduct a free review of your case for you.