Surrey-based adviser firm Jacob Hopkins McKenzie Ltd (FRN: 793392) - which also traded as 'How Refreshing' - has been declared in default by the Financial Services Compensation scheme.

The move opens the door to ex-clients with valid claims to seek compensation for losses from the FSCS of up to £85,000 per claim.

The FSCS said the firm was declared in default by FSCS on Friday as the first claim against it was upheld. The FSCS said that the claim was the only one received so far and relates to investment advice.

It did not provide details of the investment advice.

Esher, Surrey-based Jacob Hopkins McKenzie Ltd , which also used the trading name ‘How Refreshing’, is no longer trading and ceased to be regulated after 4 September 2020. The firm was first authorised by the FCA from June 2018 .

According to Companies House records the company’s accounts are overdue since 2022. There was an attempt to compulsorily strike off the company in March 2022 but that has been temporarily suspended.

The FCA Register lists three people as having worked for the company, including CF1 directors Andrew Howell Callen and Suzanne Mary Callen.

According to Companies House the appointment of Ms Callen as a director was terminated in March 2020. Mr Callen’s appointment as a director was terminated in January 2022.

Jacob Hopkins MacKenzie was one of three adviser firms declared in default by the FSCS last week. The other two included Inspirational Financial Management Ltd (FRN 223511), trading as IFM Retirement Solutions, with one claim so far upheld and 33 more claims in progress. Some of the claims against Inspirational are understood to be BSPS related.

The other adviser firm declared in default last week was Attanta Ltd (FRN 301621), formerly Neovision Wealth Management Ltd. Attanta has been declared in default with one claim upheld. Nine claims are currently in progress but none are BSPS related, the FSCS said. Ulster-based Attanta provided pensions and investment advice to clients.