FSCS declares 30 firms in default in 3 months
The Financial Services Compensation Scheme has declared 30 failed regulated firms in default between 1 November and 31 January 2020, opening the door to compensation claims.
The FSCS has recently come in for criticism for the rising toll on Financial Planners’s costs of its levies which fund the compensation payments.
The list of firms in default includes a number of Financial Planning, financial adviser and wealth manager firms as well as insurance brokers and others.
Since it launched in 2001, the FSCS has paid more than £26bn in compensation to 4.5m people.
Here are the firms declared in default by the FSCS in November, December and January:
North East:
- Prince Regent Cars formerly First Direct Car Centre Brunswick Court, Brunswick Street, Stockton-on-Tees, Cleveland, TS18 1DW
North West:
- J.B.Wilcock Insurance Bridgewater House, Suite 16, Surrey Road, Nelson, Lancashire, BB9 7TZ
- NFS Mortgages Limited 275 Hawthorne Road, Bootle, Merseyside, L20 3AP.
Yorkshire and the Humber:
- Consumer Wealth Limited Bradford Chamber Business Park, New Lane, Laisterdyke, Bradford, West Yorkshire, BD4 8BX
- Phoenix Financial Associates Limited The Toppits, Healey Road, Ossett, West Yorkshire, WF58LN
East Midlands:
- Benson McGarvey Murdoch 6 George Street, Nottingham, NG1 3BE
- Elite Insurance Company Limited, Newton Chambers, Newton Business Park, Isaac Newton Way, Grantham, Lincolnshire, NG31 9RT
- Horizon Stockbroking Limited 29 New Walk, Leicester, LE1 6TE
West Midlands:
- Adams Russell Limited 75 London Road, Newcastle-under-Lyme, Staffordshire, ST5 1ND
- Anthony Feeney and John Bland t/a Anthony Feeney Financial Services Old Bank House, 50 St. Johns Close, Knowle, Solihull, West Midlands, B93 0NN
- BlackStar Wealth Management Limited 17 Wrens Court, Lower Queen Street, Sutton Coldfield, B721RT
- Hyrifa Limited t/a Save My Pension formerly Trueway Finance Limited Youell House, Hill Top, Coventry, Warwickshire, CV1 5AB
- Transglobe Investments Limited Butcher Woods Ltd, 79 Caroline Street, Birmingham, B3 1UP
East of England:
- J.Day (Chelmsford) Limited t/a Days Of Chelmsford 74 Main Road, Broomfield, Chelmsford, Essex, CM1 7DH
Greater London:
- London Capital & Finance plc, c/o The Administrators, Smith & Williamson LLP, 25 Moorgate, London, EC2R6AY
- NJ Associates Financial Services Limited 13 High Street, Hampton, TW12 2SA
- Metropolis Motorcycles Limited 6263 Albert Embankment, London, SE1 7TP
- Re-financial Planning Limited 843 Finchley Road, London, NW11 8NA
- Sigma Financial Management Limited 75 Westow Hill, London, SE19 1TX
South East:
- CPI Services Limited Unit 1 Warwick Court, 3234 Leigh Road, Eastleigh, Hampshire, SO50 9DT
- Facts & Figures Financial Planners Limited Stoke House, Church Road, Ashford, TN23 1RD
South West:
- Avalon Investment Services Limited c/o KPMG, 100 Temple Street, Bristol, BS1 6AG
- CGFM Limited Exmouth Business Centre, 14 Hartley Road, Exmouth, Devon, EX82SG
- Parklands Wealth Limited Suite 13, Badger House , Oldmixon Crescent, Weston-super-Mare, N. Somerset, BS249AY
Wales:
- Brixham Finance Limited formerly Lerwick Financial Solutions Ltd and Lerwick Financial Solutions PLC 55 Bridge Street, Usk, Gwent, NP15 1BQ
- Economic Financial Solutions IFA Limited t/a Torch Wealth Management, JAG Protection Ty Menter, Navigation Park, Abercynon, CF45 4SN
Scotland:
- Innovative Financial Services Limited t/a Gorcades Ltd and IFS Ltd 233 Union Grove, Aberdeen, AB10 6TF
- Park Caledonia Capital Limited 7th Floor, 90 St Vincent Street, Glasgow, G2 5UB
Northern Ireland:
- JAS Financial Services Limited 2 General Steele Close, Ballycarry, Carrickfergus, BT38 9BF
Gibraltar:
- Quick-Sure Insurance Limited P.O. Box 1338, 1st Floor, Grand Ocean Plaza, Ocean Village, GX11 1AA