The Financial Services Compensation Scheme has declared 9 firms in default, including a number of financial advisers and a Financial Planning business.

The move opens the door to investors to claim compensation from the FSCS.

The firms were declared in default in June and July.

Among the firms declared in default in the latest batch of defaults were Westminster Financial Planning of Canary Wharf, London (once owned by Succession Wealth), Independent Financial Matters of Milton Keynes and Paradigm Financial Matters (which is not connected to Paradigm Norton), also of Milton Keynes.

Other firms involved in financial advice included Capital Asset Management of South Wales; Karl Jones t/a Total Financial Solutions of Wales; Premiumwatch Financial Services t/a PFS of Crewe and TFP (Life & Pensions) t/a Medical & Professional of Huntingdon.

The full list of firms declared in default by the FSCS from 1 June to 31 July:

• Capital Asset Management Ltd, formerly HSJ Asset Management Limited (FRN 503091), Goldfields House, 18A Gold Tops, Newport, South Wales NP20 4PH.
• Gateway Home Loans Ltd (FRN 475301), 101 Alfreton Road, Nottingham, Nottinghamshire NG7 3JL.
• Independent Financial Matters Ltd, t/a (trading as) Unite Financial Services (FRN 565401), 1 Radian Court, Knowlhill, Milton Keynes, Buckinghamshire MK5 8PJ.
•  Karl Jones, t/a Total Financial Solutions (FRN 565890), Unit 4, The Beacon, Dafen, Llanelli, Carmarthenshire SA14 8LQ.
• Paradigm Financial Partners LLP (FRN 516430), 62 Drayton Road, Bletchley, Milton Keynes, Buckinghamshire MK2 3EW.
•  Paxtons Insurances (FRN 140179), 25 The Calls, Leeds, West Yorkshire LS2 7EX.
• Premiumwatch Financial Services Ltd, t/a PFS (FRN 470680), 27 Meadow Avenue, Goostrey, Crewe, Cheshire CW4 8LS.
• TFP (Life & Pensions) Ltd, t/a Medical & Professional (FRN 229766), Bridgefoot House, 159 High Street, Huntingdon, Cambridgeshire PE29 3TF.
• Westminster Financial Planning Ltd, formerly known as Westminster I.F.A. Ltd (FRN 191247), 15 Canada Square, London E14 5GL.

James Darbyshire, chief counsel at FSCS, said: “FSCS was set up by Parliament in 2001 and we are here to contribute to financial stability in the UK. For the past 20 years we have been getting customers of failed authorised financial services firms back on track.

“We are reaching out to let people know that compensation may be available if they have suffered losses due to the failure of a financial services firm. We are a free and independent service and customers can claim directly from us.”

The FSCS has once again stressed that people claiming through it would pay no fees and get “100% of the compensation that they are owed.” This has been seen as a reference to the growing number of claims management companies urging consumers to use them to make claims against advisory firms.

Anyone with potential claims against the firm listed can visit https://claims.fscs.org.uk/. People can also contact FSCS’s Customer Services Team on 0800 678 1100 or 020 7741 4100, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. 

The FSCS has so far helped more than 5m people since 2001.