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Monday, 18 October 2021 14:39
FSCS declares 12 firms in default
The Financial Services Compensation Scheme has declared 12 firms in default, including a number of financial advisers and wealth managers.
The move opens the door to investors to claim compensation from the FSCS.
The firms were declared in default in August and September.
Among the firms declared in default in the latest batch of defaults were J.S Financial Advice Service Ltd of Glasgow, Thomson Brown Financial Management Ltd (also trading as Audley Asset Management) of Midlothian, Coniston Wealth Management Ltd (also trading as Lighthouse (Coniston)) of Colchester, and CFP Management Ltd of Birmingham .
The full list of firms declared in default by the FSCS from 1 August to 30 September:
- Advicelite Ltd, trading as (t/a) Investorlite, Isalite, Pension & Investor Lite (FRN 464011), Denby House, Stafford Court, Stafford Park, Telford, Shropshire TF3 3BD.
- AFX Markets Ltd, t/a STO, Quantic Prime, tradealot, XSecurities, eloFX (FRN 560872), 33 Sun Street, Second Floor, London EC2M 2PY.
- BPI 55 Ltd, formerly Broadstone Pensions & Investments Ltd, BDO Investment Management Ltd (FRN 118291), 55 Baker Street, London W1U 7EU.
- City of London Markets Ltd, t/a T/A Berkeley Capital (FRN 595844), 1 Royal Exchange, London EC3V 3DG.
- Omada Investment Management Ltd, t/a Fairfax Investment Management Ltd (FRN 468801), 2 Harewood Place, London W1S 1BX.
- Thomson Brown Financial Management Ltd, t/a Audley Asset Management (FRN 474874), Annfield House, 1 Eskbank Toll, Eskbank, Midlothian EH22 3DY.
- CFP Management Ltd (FRN 571695), 79 Caroline Street, Birmingham, West Midlands B3 1UP.
- Clear Capital Management LLP, t/a Clear Advice, Kalis Capital LLP (FRN 598743), Mailbox 10, Unit 1, Lewis Industrial Estate, Radford Road, Nottingham, Nottinghamshire NG7 7NQ.
- Coniston Wealth Management Ltd, t/a Lighthouse (Coniston) Ltd (FRN 400512), 119 Nayland Road, Mile End, Colchester, Essex CO4 5EW.
- David Meek Ltd, t/a David Meek Daewoo, David Meek Group, David Meek Proton (FRN 310312), Barton Hill Road, Torquay, Devon TQ2 8HN.
- S. Financial Advice Service Ltd (FRN 401098), 8 Bridgeton Cross, Glasgow, Lanarkshire G40 1BW.
- Rock Financial Consultants 2002 Ltd (FRN 400096), 8 Cwrt-Ucha Terrace, Port Talbot, West Glamorgan SA13 1LD.
Sarah Marin, chief customer officer at the FSCS, said: "FSCS is here to contribute to financial stability in the UK. FSCS protection increases consumer confidence when buying financial products and services, and our compensation helps put customers back on track should financial firms fail.
"Compensation may be available if people have suffered losses due to the failure of a financial services firm. We are a free and independent service and customers can claim directly from us."
The FSCS has once again stressed that people claiming through it would pay no fees and get “100% of the compensation that they are owed.” This has been seen as a reference to the growing number of claims management companies urging consumers to use them to make claims against advisory firms.
Anyone with potential claims against the firm listed can visit https://claims.fscs.org.uk/. People can also contact FSCS’s 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..
The FSCS has so far helped more than 5m people since 2001.
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