The Financial Services Compensation Scheme (FSCS) declared 16 companies in default during October and November 2021.
This included 10 advice firms, two consultancy firms, three insurance firms and a car dealership
Caroline Rainbird, FSCS chief executive, said: “We know it’s stressful when a financial firm stops trading but owes you money. That’s why we have specially trained claims handlers who are here to assist you through every step of the process, and we’ll keep you up to date with our progress.
“In the 2020/21 financial year, we helped more than 52,000 customers get back on track – by either paying them compensation or enabling them to transfer to a new provider for their investment or insurance policy.”
The firms are:
- A W Dallas Financial Services, trading as Portfolio Pension Consultancy – in Swansea, Wales;
- Acklam Financial – in Middlesbrough, England;
- Armstrong Campbell – in Newcastle Upon Tyne, England;
- Border Cars (Dumfries), trading as BC Motorhomes, BCM, BM Services, Border Cars in Dumfries, Scotland;
- Broadlands Partnership, trading as Manning Gee Investments in Penarth, Wales;
- Fortuna Wealth Management, previously Fidelis Wealth Management and AWG Financial in Wolverhampton, England;
- Independent Benefit Consultancy in Glasgow, Scotland;
- Lifestyle Financial Consultancy in Hereford, England;
- MCE Insurance Company in Gibraltar, British Overseas Territory;
- Meyado Private Wealth Management London, formerly Berkshire Financial Advisers in London, England;
- Network Direct in Waterlooville, England;
- Retirement & Pension Planning Services in Barnsley, England;
- Spires Independent, trading as Paladin, Tony Castrey Wealth Management in Lichfield, England;
- Tramway Financial Management in Alcester, England;
- West Wales Financial Services trading as IWA Financial Solutions, Mike Powell Mortgages in Gelliwerdd, Wales; and
- Will Insurance Services in London, England.
