The FSCS declared only five regulated firms in default in February and March, sharply down on the 12 firms it declared in default over the same period in 2024.
Glasgow-based pension adviser firm Executive Benefit Consultancy Ltd (FRN: 207482) has been declared in default by the Financial Services Compensation scheme.
East Lothian-based adviser firm Money Advice Partnership Ltd (FRN: 715880) has been declared in default by the Financial Services Compensation Scheme.
Surrey-based adviser firm Jacob Hopkins McKenzie Ltd (FRN: 793392) - which also traded as 'How Refreshing' - has been declared in default by the Financial Services Compensation scheme.
The Financial Services Compensation Scheme has declared two financial adviser firms in default this week after receiving a growing number of claims from ex-clients.
The Prudential Regulation Authority (PRA) has today said it proposes to raise the deposit protection limit of the Financial Services Compensation Scheme (FSCS) from £85,000 to £110,000.
London-based wealth manager LLP Services Ltd (FRN: 229382) has been declared in default today by the Financial Services Compensation Scheme (FSCS).
The network arms of failed advice firm Tenet - TenetConnect (FRN: 149826) and TenetConnect Services (FRN 150643) - have now both been declared in default by the Financial Services Compensation Scheme, opening the door to compensation claims.
The 498-member Basildon Credit Union Limited (FRN: 213229) has gone into administration and been declared in default by the Financial Services Compensation Scheme (FSCS).
The FSCS and Police Scotland are investigating a Scottish adviser firm after it appeared that insurance premiums and potentially investment contributions were not being passed on to providers.
West Yorkshire adviser firm Reis Financial Planning Ltd (FRN: 673257) has been declared in default by the Financial Services Compensation Scheme today after a first claim against the firm was upheld.
