The FSCS has declared nine financial services firms in default during December and January, including several financial advisers.

The compensation body said that the nine firms had gone out of business which means they were unable to meet any claim themselves.

Firms on the latest list include SIPP provider Rowanmoor and Niche IFA.

Customers with a valid claim against the firms can seek £85,000 in compensation per claim.

The FSCS steps in if a regulated financial firm is no longer trading and cannot pay a customer’s claim. The service is free to customers.

FSCS protection covers money held in bank, building society and credit union accounts. The FSCS also protects clients with who have used regulated firms in insurance, investments, financial and mortgage advice and arranging, debt management and funeral plans.

Declarations by FSCS from 1 December 2023 to 31 January 2024 (9 firms):  

• Quadros Financial Solutions Limited (FRN 764760) 78 Birmingham Street Oldbury B69 4EB United Kingdom
• Bluesky Wealth Management Limited t/a Pensions Matter (FRN 446963) 79 Caroline Street, Birmingham, B3 1UP
• IFS Aegis Limited formerly Authorised Financial Advisors Limited (FRN 587982) Unit 404
   Stonehouse Park, Sperry Way, Stonehouse, Gloucestershire, GL10 3UT 
• Houghton Edwards LLP (FRN 591926) Ranworth House 87 London Road Worcester WR5 2DZ
• Rowanmoor Personal Pensions Limited ta Rowanmoor (FRN 458260) One Glass Wharf Bristol BS2 0ZX United Kingdom
• The Chambers Partnership Limited (FRN 495472) Beechfield House Winterton Way Lyme Green Business Park Macclesfield Cheshire SK11 0LP
• D & G Financial Services Limited ta D&G Insurance Services, AWC Insurance Services (FRN 208521) 23A Harraton Terrace, Durham Road, Birtley, County Durham, DH3 2QGD  
• Niche Independent Financial Advisers Limited (FRN 472635) 9 Pye Corner, Rogerstone, Newport, NP10 9ES
• Smith Holdings Limited t/a Life Time Independent (FRN 441726) Bramley House, 56 Bramhall Lane South, Bramhall, Stockport, Cheshire, SK7 1AH

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