The Financial Services Compensation Scheme has opened the door to compensation claims from consumers after declaring 11 failed firms, including several adviser and wealth manager businesses, in default in June.

A declaration of default means the FSCS is satisfied a firm is unable to pay claims for compensation made against it.

This paves the way for customers of that firm to submit a claim for compensation with the FSCS.

Alex Kuczynski, chief corporate affairs officer at the FSCS, said: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust. This vital service, which is free to consumers, protects deposits, insurance, investments, home finance and debt management.

“We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.” 

Since it began in 2001, the FSCS has helped more than 4.5m people, paying out more than £26bn in compensation.

Declarations by FSCS in June 2019:

East Midlands

John B Carr Financial Services, 22, The Green, Nettleham, Lincs LN2 2NR.

The Carnation Limited, 80 Hinckley Road, Leicester LE3 0RD.

Greater London

Barchester Green Limited, Gladstone House, 77-79 High Street, Twickenham TW20 9HY.

Kevin Neal Associates Wealth Management LLP, 34 Clarendon Road, Watford WD17 1JJ.

North West

DFD Mortgages Limited, Eversheds House, 70 Great Bridgewater Street, Manchester M1 5ES.

Scotland

The Wealth Partnership Limited, 153 Queen Street, KLM, 1st Floor, Glasgow G1 3BJ.

South East

Bradford Peters Financial Services Limited, 1 Oak Court, Betts Way, Crawley RH10 9GG.

KWS Wealth Management Limited, 500 Avebury Boulevard, Milton Keynes, Buckinghamshire MK9 2BE.

South West

Castle Asset Management, formerly Lighthouse (South West), Sydenham House, High Street, Gillingham, Dorset SP8 4AG.

West Midlands

K.G.J. Garages Limited, 63 Gospel Oak Road, Tipton, DY4 0DR.

Wales

Hayden Williams Independent Financial Services Limited formerly Assura Protect, Room 1, 7 Meadows Bridge, Parc Menter, Cross Hands, Llanelli, Carmarthenshire, Wales SA14 6RA.