The FSCS has declared Essex-based financial adviser Capital Wealth Solutions Ltd (FRN: 536958) in default.
It said it has received one claim against the firm related to investment advice, which has been upheld triggering the default declaration.
It was declared in default on 1 May. The default opens the door for the industry-funded consumer compensation net to pay up to £85,000 per claim to ex-clients with successful claims.
Capital Wealth Solutions was based in Loughton in Essex and first received authorisation from the FCA in May 2011.
It launched a new trading name Capital Wealth Solutions Managed Direct in March 2019, according to the FCA Register.
Capital Wealth Solutions lost its FCA authorisation in February 2024 which means it can no longer provide regulated activities and products.
The firm’s directors were listed as James Austin Caviel, Peter Bridges and Michelle Yvonne Caviel. Mr Caviel now has an approved role with ValidPath Ltd, becoming an appointed representative in November 2025.
Companies House records show that the firm was incorporated in November 2010 and dissolved in September 2025. Its business was listed as “Other activities auxiliary to insurance and pension funding.”
Its last accounts posted were made up to March 2019.
The firm went into compulsory liquidation in August 2019 with the winding up concluded in May 2025.
Earlier in April it declared Yorkshire adviser firm Barfield Associates Limited (FRN: 116531) in default after receiving two claims, both relating to pensions advice.