Compensation coming as 62 firms declared in default
Sixty-two failed financial firms from across the UK have been declared in default today.
The Financial Services Compensation Scheme said many consumers that have lost money as a result of their dealings with the 62 companies could be in line for compensation – and some of these claims are already being paid.
Many of the companies come under the investments and life and pensions categories.
See list of firms below.
When a business is termed as being in default it signals that the FSCS has been satisfied that it is unable to pay claims for compensation made against it.
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Two weeks ago, the FSCS announced that advisers will have to cough up £100m for the 2015/16 levy. This increased from the estimated £57m announced in January and the overall figure for across the industry has gone up by £32m to £319m.
The FSCS said it was "primarily because of a rise in claims relating to self-invested personal pensions".
In January Mark Neale, chief executive of the FSCS, said: "Many of these investors have suffered significant investment losses as a result of advice to invest in risky, non-standard assets such as overseas property developments."
Mr Neale said: "FSCS protects consumers when financial firms fail. We're there for people who have nowhere else to turn. The annual levy allows us to compensate consumers, and as a result, make a valuable contribution to consumer confidence."
Since its inception, FSCS said that it had aided more than 4.5m people, paying out more than £26bn in compensation.
The list of firms is:
North West
Investments
Alderley Asset Management Limited Formerly Bankhall Financial Services Limited T/A Sterling Wealth Management, 35a London Road, Alderley Edge, Cheshire, Sk9 7jt
Norcrest Financial Services Limited, 253 Wellington Road South, Stockport, Cheshire, Sk2 6ng
General Insurance
Pmp Network Limited, 125 Portland Street, Manchester, Lancashire, M1 4qd
Life And Pensions
Total Wealth Management Limited Formerly The Ifa Partnership Limited, 55 Washway Road, Sale, Cheshire, M33 7ab
Yorkshire And The Humber
General Insurance
South Yorkshire Motor Homes Limited, Rotherham Road, Dinnington, Sheffield, South Yorkshire, S25 3rf
Home Finance
Blake Independent Financial Planning Limited, Cockerham Hall, 17 Huddersfield
Road, Barnsley, South Yorkshire, S70 2lt
Midlands Investments
Blissett Limited T/A Corporate Financial Services (Midlands), 48 School Lane, Woodhouse, Loughborough, Leicestershire, Le12 8uj
Gfp Wealth Management Limited, Rendle & Co, Unit 9, Hockley Court, 2401 Stratford Road, Hockley Heath, Solihull, West Midlands, B94 6nw
H M E F Limited Formerly English Mutual Holdings Limited, 22 The Tything, Worcester, Worcestershire, Wr1 1hd
Modi And Shah Services Limited, 216 Melton Road, Leicester, Le4 7pg
P Holden & C Cameron T/A Willow Financial Management, 4 West Walk, Leicester, Leicestershire, Le1 7nb
Robinson Sharpe Limited, 14-16 St Leonards Road, Northampton, Nn4 8dp
Secure Ifa Limited, Unit 19 Cottesbrooke Park, Heartlands Business Park, Daventry, Northants, Nn11 8yl
General Insurance
Action Motorcycles Ltd, Unit 5, Lakeside Industrial Estate, New Meadow Road, Redditch, Worcestershire, B98 8yw
Life And Pensions
Darley Independent Financial Advisers Limited, 2 Friars Close, Darley Abbey,
Derby, Derbyshire, De22 1fd
Denebrook Limited, Culls House, 36 High Street, Sutton Coldfield, West Midlands, B72 1up
G. Edward Stait & Associates Limited, The School House, St Michaels Road, Sutton Coldfield, West Midlands, B73 5sy
East
Investments
Henstaff Financial Planning Limited, Po Box 145, Dereham, Norfolk, Nr19 9ag
Wp Investment Services Limited, 2 Old Hall Mews, Watton Road, Colney, Norwich, Norfolk, Nr4 7tx
General Insurance
Jigsaw Customer Management Limited T/A Logical Loans, Oasis Finance, 163-167 Mill Road, Cambridge, Cambridgeshire, Cb1 3an
South East & London
Investment
Chiltern Financial Solutions Limited, 3rd Floor Office Suite, 12 The Broadway, Old Amersham, Buckinghamshire, Hp7 0hp
C.R. Toogood (Financial Services) Limited, Duncombe House, Ockham Road North, East Horsley, Leatherhead, Surrey, Kt24 6nx
Hyde Gardens Limited, 145-147 St John Street, London, Ec1v 4pw
Key Benefits Limited, 11 Beeches Avenue, Carshalton, Surrey, Sm5 3lb
Kmr Financial Management Llp, 3-5 Duke Street, London, W1u 3ed
Lower Church Street Limited Formerly Alchemy Wealth Management Limited, 145-147 St John Street, London, Ec1v 4pw
Private Wealth Management Limited T/A Omni Wealth Management, Ward Mackenzie Wealth Management, The Tower, Global House, Portland Square, Portland Road, Worthing, West Sussex, Bn11 1qh
R Palmer (Deceased) T/A Rothberg & Co, Elstree Business Centre, Elstree Way, Borehamwood, Hertfordshire, Wd6 1rx
Virtual Net (Europe) Limited Formerly Virtual Net (Europe) Plc, 1st Floor Prospect House, Quarry Wood Industrial Estate, Mills Road, Aylesford, Kent, Me20 7na
General Insurance
A2b Homeloans Limited, Foxhills Farm, Foxes Lane, West Wellow, Romsey,
Hampshire, SO51 6DS
Carmaz Limited Formerly Howper 409 Limited T/A New Southgate Seat, Pinkham Way, New Southgate, London, N11 3ut
Finchley And Totteridge Car Centre Limited, Units 1 And 4, Block 3, Colney Hatch Lane, London, N11 3dg
Millers, Arterial Road, Basildon, Essex, Ss14 3au
Lisles Motor Repairs Limited, London Road, Woolmer Green, Knebworth,
Hertfordshire, Sg3 6jb
NDC INS Services Limited, C/O The Liquidator: Elliot Green, Herschel House, 58 Herschel Street, Slough, Berkshire, Sl1 1pg
Saab City Limited T/A City, Saab Fulham, Saab Piccadilly Formerly Divenow Limited, Saab City Ltd, 60 The Highway, London, E1w 2bf
Zodiac Loans Limited, Studio House, Delamare Road, Cheshunt, Waltham Cross, Hertfordshire, En8 9sh
Life And Pensions
A Moscow (Deceased) T/A Harvey Allan, 64a High Street North, East Ham,
London, E6 2hj
Keith Scott Plc, 28a York Street, London, W1u 6qa
Harris Knights & Co Limited, 4 Market Hill, Maldon, Essex, Cm9 4pz Sheldon
Monk & Company Limited 15/19 Cavendish Place, London, W1g 0dx
South West
Investments
C. Donohoe Associates, Greenover, West Hill, Blunsdon, Swindon, Wiltshire, Sn26 7bq
General Insurance
Bryan Brothers Limited, St. Philips Causeway, Arnos Vale, Bristol, Somerset, Bs4 3ax
Nici Swan Mortgage Consultancy Limited, 48 Park Avenue, Chippenham, Sn14 0ha
Wheel Torque Motorcycles Ltd, 200 Church Road St. George, Bristol, Somerset, Bs5 8ad
Life And Pensions
Wynyard Asset Management Limited, Sequoia House, 9 Chapell Lane, Wynyard
Park Business Village, Wynyard, Billingham, Cleveland, Ts22 5fg
Scotland
Investments
James & George Collie Financial Services Limited, 220 Union Street, Aberdeen, Aberdeenshire, Ab10 1tl
Jamieson Financial Management Limited, Pavilion 2, Castlecraig Business Park, Stirling, Fk7 7sh
Planned Futures Limited, 89 West Regent Street, Glasgow, Lanarkshire, G2 2ba
Rutland Investment Managers Partnership Llp Formerly Rutland Investment Managers Llp, Rutland House, 5 Allen Road, Livingston, West Lothian, Eh54 6tq
General Insurance
3i Mortgages Limited, 2 Gillespie Place, Edinburgh, Midlothian, Eh10 4hs Elton Finance (Cumbria) Limited Formerly Taychart Limited T/A Elton Finance, 122
Queen Street, Whitehaven, Cumbria, Ca28 7qf
Financial Consultancy And Mortgage Brokers Limited, Hillside, Dougliehill Road, Port Glasgow, Renfrewshire, Pa14 5dl
Life And Pensions
T.M. Jess Financial Services, 151 Merrylee Road, Glasgow, Lanarkshire,
rgan, Cf1 5ee
General Insurance
The Abertillery Motor Company Formerly Calmbreeze Limited T/A The Car Emporium, Aberbeeg Road, Abertillery, Gwent, Np13 2eq
Northern Ireland
Life And Pensions
Welford Consultants Limited, 67 High Street, Holywood, Co Down, Bt18 9aq
General Insurance
A Owens & H Owens T/A Owens Bros (Belfast), Prince Regent Trade Centre, Prince Regent Road, Belfast, County Antrim, Bt5 6rw
Home Finance
P Rodgers T/A Cameo House, 132 Longstone Street, Lisburn, County Antrim,
Bt28 1tr