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FSCS declares 28 adviser firms in default

FSCS declares 28 adviser firms in default

The Financial Services Compensation Scheme has recently declared 28 adviser firms that advised on investments and life and pensions in default.

A declaration of default means the FSCS is satisfied a firm is unable to pay claims for compensation made against it, opening the way for customers to make a claim for compensation.

Mark Oakes, head of communications at the compensation scheme, said: “Our message to anyone who believes that they may be owed money as a result of their dealings with any of these firms is please get in touch, as we may be able to help you.”

Across the country, the firms listed as dealing with either investments, or life and pensions, were:

In the north west

• Standrings Ltd;

• Montpelier Financial Services (Manchester);

• Norcrest Financial Services Ltd; and

• CPC Wealth Management Ltd.

In the north east

• Financial Professional Ltd;

• Legacy Wealth Management Ltd; and

• Pentyre Investments Ltd.

In the Midlands

• Matthew Round & Co;

• Hewitt and Harris Wealth Management Solutions Ltd;

• Presto Planning Ltd formerly Corporate Tax Planning Ltd;

• Planned Exit Ltd, formerly Robert Magee & Associates Ltd;

• Archer Bramley Ltd; and

• Asquith Hart Financial Management LLP.

In the south east and London

• M Mallen and V Mallen, trading as Michael Mallen Associates;

• Hightree Financial Services Ltd;

• Newman Wright Financial Advisors;

• Select Financial Solutions Ltd;

• Provision Financial Consultants Ltd;

• Davinci Wealth Management Ltd;

• First Action Finance Ltd;

• W.P.L.C Financial Consultants Ltd;

• Avidity Wealth Management Ltd; and

• The Joseph Bevan Partnership.

In the south west

• C P Asset Management (UK) Ltd.

In Scotland

• Crisp Financial Services Lt; and

• Central Investment Services (Aberdeen) Ltd.

In Wales

• The Mortgage Market (Cardiff) Ltd, trading as TMM Independent Financial; and

• E David Roberts and Co Ltd.

UPDATED on 24 September 2015: Since publication the FSCS published a new list of firms in default, which replaced the old list.

peter.walker@ft.com