The UK’s Financial Services Compensation Scheme (FSCS) declared 17 financial advice companies in default over the August-October 2019 period.
Some of them offered life insurance, pension and discretionary fund management services as well as financial planning and advice.
They are:
- Valiant Financial Consultants, Kent, August 2019
- N-Hanced, Tyne and Wear, August 2019
- AETC Associates, Bradford, August 2019
- Bellfield Financial Services, Glasgow, August 2019
- St Martin’s Partners, Essex, September 2019
- Strathearn Insurance Services, London, September 2019
- Property Finance Solutions, West Sussex, September 2019
- WSW Financial Services, Brighton, September 2019
- Blackstone Independent Financial Advisers, Cheshire, September 2019
- Financial Provision Solutions, Lancashire, September 2019
- CPPT Services, West Midlands, September 2019
- Ask Finance, West Midlands, September 2019
- KBW Associates, Kent, October 2019
- Gerard Associates, Bristol, October 2019
- A Vincent, South Yorkshire, October 2019
- Ron Treherne IFA, Cardiff, October 2019
- A Milward & E Milward, Glasgow, October 2019.
Compensation hopes
All 17 firms were regulated and, as a result, clients might be able to get some of their money back.
Caroline Rainbird, chief executive of the lifeboat scheme, said: “FSCS’s role is to help people who have lost money as a result of doing business with an authorised firm if that firm is unable to meet claims made against it.
“The existence of FSCS helps to instil confidence in the financial services sector by ensuring customers can get the compensation they are entitled to when a firm fails.
“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.”
