London-based wealth manager LLP Services Ltd (FRN: 229382) has been declared in default today by the Financial Services Compensation Scheme (FSCS).

The move opens the door to successful claimants receiving up to £85,000 per claim from the FSCS, the industry-funded consumer safety net.

The FSCS told Financial Planning Today that there were 12 claims so far received against the firm relating to general investments and pensions advice.

The claims are not BSPS related.

One of the claims so far has been upheld, triggering the default declaration. A default declaration is required before successful claims can be paid.

The firm was based in Tavistock Square in London’s West End.

LLP Services Ltd had 18 different Appointed Rep firms associated with it, according to the FCA Register.

The appointed rep firms included: Bespoke Capital Management LLP, Bespoke Pension Management (London) LLP, Blue Flag Property Services Ltd, Campbell Montague Wealth Limited, Carpaurum LLP, Eaton Investment Management Ltd, Greenhouse Media Investment Limited, Herald Trust Company Limited, Homes In Romania (UK) Limited, MC2 Wealth Group Limited, Temple Tax Solutions Limited and The Complete Financial Player LLP.

LLP Services Ltd is no longer trading and ceased to be authorised after November 2017. The firm was dissolved in 2020.

The firm had 15 regulated staff listed as working for it with CF1 directors listed as John Rawicz-Szczerbo, Robert Austin Guest and Peter Robert Miller.