The Monetary Companies Compensation Scheme (FSCS) has declared 12 regulated companies in default in February and March.
The companies have gone out of enterprise and are unable to satisfy any compensation claims themselves.
The invoice for compensation, as much as £85,000 per client declare, will now be picked up by the FSCS and finally the regulated monetary sector.
The companies declared in default embrace a number of monetary recommendation and Monetary Planning companies, main SIPP supplier Hartley Pensions, a Portuguese-based agency and Liverpool-based stockbroker and funding supervisor Blankstone Sington.
Corporations declared in default from 1 February 2024 to 31 March 2024 (12 companies):
- Pension Recommendation Specialists Restricted, buying and selling as Ashworth Wealth (FRN 792927), Marshall Home, 2 Park Avenue, Sale, M33 6HE
- Abbey Lane Monetary Associates Restricted (FRN 649170) 15 Chapel Avenue, Woodhouse, Sheffield, S13 7JL
- Aqua Monetary Companies Restricted, previously Aqua IFA Restricted (FRN 228652), Kingsley Corridor, 20 Bailey Lane, M90 4AN
- Strategic Funding Options Restricted, previously Cobco (291) Restricted buying and selling as Denton Mortgages & Loans (FRN 230902), 55-57 Wilmslow Street, Handforth, Cheshire, SK9 3EN
- Contemporary Monetary Options LLP (FRN 471129), Scottish Provident Home, 7 Donegall Sq. West, Belfast, Northern Eire, BT1 6JH
- A.P. Monetary Companies UK Restricted, buying and selling as Pella Associates, GW Monetary Planning Companies (FRN 218973), Unit 2, Uffcott Farm, Wiltshire, SN4 9NB
- Hartley Pensions Restricted (FRN 735936), 26 Grosvenor Avenue, London W1K 4QW
- Frodsham Monetary Planning Restricted, previously Tom Carroll Associates Monetary Planning Restricted (FRN 214554), 818 Manchester Street, Castleton, Rochdale, OL11 3AW
- Sterling Inexperienced Restricted, buying and selling as Sterling Inexperienced Loans, beyondcomparison (FRN 469956), Grosvenor Home, 3 Chapel Avenue, Congleton, CW12 4AB
- Abana Unipessoal Lda, previously Abana Lda (FRN 597069), Avenida 25 de Abril 1011, N.º 50, Cascais, 2750515, Portugal
- Blankstone Sington Restricted, buying and selling as BS CFDs (FRN 143694), Walker Home Alternate Flags Liverpool L2 3YL
- Dial4aloan Restricted (FRN 305186), Mere Method, Ruddington Fields Enterprise Park, Ruddington, Nottingham, NG11 6NZ
Emma Barrow, head of communications on the FSCS, stated: “It’s onerous to know the place to show for assist when a monetary firm that owes you cash goes out of enterprise.
“Should you’re a buyer of a UK-regulated monetary providers agency that has stopped buying and selling, FSCS might be able to step in to pay compensation. It’s fully free to say straight by us and our professional claims handlers are readily available to assist make the method as straightforward as attainable.”
