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.

The FSCS said there had been one successful claim agains the firm so far and the claim relates to pension transfers.

The claim against the firm is not believed to be BSPS-related advice.

The declaration of default means the firm has now been declared as failed and the industry-funded FSCS will step in to pay successful compensation claims up to a limit of £85,000 per claim.

Companies House records show the firm was dissolved on 31 October 2023.

The FCA register shows the firm ceased to be authorised from 6 June 2023. It was first authorised as a regulated firm in 2015.

Three individuals are listed by the FCA as being connected to the firm: Christian Michael Slocombe (CF1 director), David Spencer Shirley and Mark Scott.

The FCA has so far in 2025 declared four firms as failed. In the current tax year the FSCS has declared over 40 firms in default.