The Financial Services Compensation Scheme (FSCS) confirmed that five companies were declared in default between 1 February and 31 March 2022.
Of these, three were advice firms, one was an insurance company, and one was a credit business.
Fiona Kidy, FSCS chief financial officer, said: “FSCS has been getting customers back on track for more than 20 years.
“Our key aims of protecting consumers and contributing to financial stability are as important as ever. We apply our rules in a consistent and impartial manner and deliver our service with efficiency.”
The firms are:
- John Dyer (Life & Pensions) Ltd, based in Swansea;
- Perry Prowse (Insurance Consultants) Ltd, based in Exeter;
- Philip Griffin & Associates, based in Whitby;
- SDSC (Midlands) Ltd, formerly SJL Wealth Management Ltd, based in Derby; and
- Strathkelvin Credit Union Ltd, based in Glasgow.
