The Financial Services Compensation Scheme, the government-backed body which compensates clients of failed regulated firms, has confirmed that it declared six financial services in default over the past two months.

The declaration of default against the six firms in October and November means they are deemed by the FSCS to be unable to meet any compensation claims against them.

The FSCS will now consider claims against the firms upto its award limit per claim of £85,000.

The FSCS 'safety net' covers regulated firms working in financial advice, insurance, investments, mortgage advice and arranging, debt management and funeral plans.

Firms declared in default include ISA and bond providers Cavendish Incorporated Ltd and Marvell Enterprises Ltd and Retirement Direct Ltd.

Firms declared in default by the FSCS from 1 October 2023 to 30 November 2023:  

• Cavendish Incorporated Ltd (FRN 942176) 36-46 Albert Embankment, London, SE1 7TL
• Marvell Enterprises Ltd (FRN 942172) 21 Farringdon Road, London, EC1M 3HA
• Retirement Direct Ltd, formerly Read Independent Financial Advisers Ltd (FRN 183942) Sterling House, 64 Lichfield Road, Stafford, ST17 4LW
• D.C. Financial Limited formerly SystemCover Limited (FRN 170299) Blaenffynnon Talog, Carmarthen, Dyfed, SA33 6PA
• FML Insurance Services Ltd, trading as Entertainment Insurance Services (FRN 309970) 977 London Road, Leigh-on-Sea, Essex, SS9 3LB
• Core Cover Ltd formerly Study Safe Ltd, trading as Lifeover.com, Secured-Loan.online, Health Core PMI, acceptedmoney.co.uk (FRN 774068) Meteor House, First Avenue, Doncaster Finningley Airport, Doncaster, DN9 3GA

FSCS head of communications Emma Barrow said: “FSCS is here to protect consumers across the UK and to contribute to financial stability. We’re reaching out to consumers to let them know that compensation may be available if they’ve lost money because a financial services firm they dealt with has failed. We are a free and independent service that customers can claim directly with online or by post.”

• Clients can visit https://claims.fscs.org.uk/ to make a claim with FSCS against any of these firms. You can also contact our Customer Services Team on 0800 678 1100 or 020 7741 4100, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..