More consumers could be in line for compensation as the UK’s Financial Services Compensation Scheme (FSCS) confirmed nine firms defaulted in April and May 2024.
These companies have gone out of business and are unable to meet any demands themselves.
Customers who may owe money from these companies can see how they are protected by visiting the FSCS website at www.fscs.org.uk/what-we-cover.
If a regulated financial company is no longer trading and cannot pay a customer’s claim, the FSCS can step in to pay compensation.
FSCS protection covers money held in bank accounts, companies and credit unions. The FSCS also protects pensions, financial advice, insurance, investments, mortgage advice and settlement, debt management and funeral planning.
Defaults declared by the FSCS from 1 April 2024 to 31 May 2024:
- Castle & Crystal Credit Union Ltd (FRN 213711)
25 New Street, Dudley, DY1 1LT
- Chestergate Financial Services Ltd, formerly Bradshaw Bennet Independent Financial Advisers Ltd (FRN 459990)
The Cooney Building Riseley’s Passage (Off Chestergate) Macclesfield Cheshire SK11 6DG
- Alexander David Securities Ltd (FPN 469150)
49 Queen Victoria Street London EC4N 4SA
- Atlantic Investors (Scotland) Ltd (FRN 182565)
180 West Regent Street Glasgow Lanarkshire G2 4RW
- PH7 Wealth Management Ltd, formerly The Pension Place Ltd trading as PH7 Mortgages, PH7 Insurance Brokers (FRN 842598)
Churchill House Third Floor 60 Bank Parade Burnley BB11 1TS
- WR Simon Ashley Silver Independent Financial Advisor Ltd (FRN 209539)
38 Dunford Road, Holmfirth, West Yorkshire, HD9 2DP
- Go IFA Ltd, formerly Stevton Ltd, trading as Go IFA Ltd, Go IFA (FRN 530741)
124 City Road London EC1V 2NX
- Oakwood Financial Management LLP (FRN 225473)
Bayley House 22-23 Bayley Lane Coventry West Midlands CV1 5RJ
- Finsbury Financial Ltd, trading as Finsbury (FRN 503294
South Building Upper Farm Wootton St Lawrence Basingstoke Hampshire RG23 8PE
Visit the FSCS claims portal if you want to make a claim with the FSCS against any of these companies. You can also contact the Customer Service Team on 0800 678 1100 or 020 7741 4100 or by email at enquiries@fscs.org.uk.