The FSCS has declared another 25 firms in default, meaning that they are satisfied that the firms can’t pay claims made against them for things like negligent advice
25 more firms have been added to the ever-growing list of financial services outfits that don’t have the dough to pay claims for compensation made against them. The Financial Services Compensation Scheme, which released the list on the 9 July 2017, is setup to payout compensation for those people who have been wronged by an IFA or other service provider regulated by the FCA, but only when the firm is unable to pay the client itself through a direct claim, or if commanded to by the Ombudsman.
The 25 firms
| IFA NAME | LOCATION |
| Herford I.I (Martin Hale & Company Ltd) | Herfordshire |
| Arjent Limited | London |
| White House Indpendent Financial Services Limited | London |
| Motorcycle Store Limited | London |
| Enterprise Private Equity Limited | London |
| Cornerstone Friendly Society | London |
| Cooper Financial Services | W/Midlands |
| Russell Watchorn Financial Services Limited | Leicestershire |
| Financial Planning & Investment Limited | Worcestershire |
| Furness Financial Management | Staffordshire |
| Anthony William Morrin (AWM Financial Services) | Tyne & Wear |
| Universal Wealth Management LLP | County Durham |
| Cherwell Finance Limited | W/Yorkshire |
| Investmetn & Pension Management Limited (IPM) | Lancs |
| H E GRANT Limited | ANGUS |
| Clifton Financial Management (Kellands) | Lanarkshire |
| Michael Hugo Munro (Financial Solutions) | Hampshire |
| Blue Ocean Financial Services | Kent |
| Complete Mortgage & Loan Services Limited | Hampshire |
| MFS Partnership (SW) LLP | Devon |
| Bank House Investment Management | Gloucestershire |
| Holdsworth & Company | Somerset |
| City Motor Holdings Limited | Devon |
| Morley Davis Asset Management Limited | Cornwall |
| Independent Financial Management Services | Pontypridd |
Pension mis-selling scandal
While not all of the firms on this list dealt with pensions, we know that some did, and have already made some successful claims against their advice, often after they moved client money into a SIPP, and invested it in high-risk and non-standard products. You can find a list of more commonly sold (or mis-sold) high risk investments here.
The team at Spencer Churchill Claims Advice are specialists at spotting mis-sold pensions, and can usually identify whether you have a case over a FREE initial pension advice assessment, with no obligations attached.
If YOU’VE moved your pension as a result of advice from any of the firms above, we WANT TO HERE FROM YOU! Just use our FREE pension advice checker to find out if you’ve got a case for a claim to SAVE YOUR RETIREMENT!
Let’s rewrite your financial story
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
When you get let down by someone you thought you could trust, it can leave its mark on you, emotionally and physically.
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