The UK Financial Services Compensation Scheme (FSCS) declared six firms in default during July 2019.
Five offered various financial advice services and were based all over the country.
They are:
- Omega Financial Solutions Limited (Greater London);
- Breterac Limited formerly Fenton Finance Limited (North West);
- Luddington Broze (South West);
- Leech & Burgess IFA (South West);
- Westbury Capital Partners t/a The Insurance Business t/a Westcap (South West); and
- Premier Mortgage Centre (UK) (South West).
Going bust
As all the firms were regulated, clients who lost money may be eligible for compensation through the FSCS.
Alex Kuczynski, chief corporate affairs officer at the FSCS, said: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust.
“This vital service, which is free to consumers, protects deposits, insurance, investments, home finance and debt management.
“We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.”
Since it began in 2001, FSCS has helped more than 4.5m people, paying out more than £26bn ($31.4bn, €28.1bn) in compensation.
In May 2019, 11 firms entered default, nine of which were advice businesses.
