The Financial Services Compensation Scheme (FSCS) declared 10 companies in default between April and May 2021.
Of those, five were financial advisory businesses and two provided life insurance. They are:
- The Heath Consulting Company in Reading, Berkshire;
- Wrightway Financial Consultants in Tunbridge Wells, Kent;
- Knight Wealth Management Services in Birmingham;
- IFA Home Counties in Waltham Abbey, Essex;
- Sovereign Wealth Advisory in Leicester;
- Medden Financial Services in Coventry; and,
- Campbell, trading as The Newton-Barr Partnership, in Edinburgh.
The other three were an insurance brokerage company, a trustee firm and a securities trading business.
People who have dealt with any of them, and believe they are owed money, can now make a claim to the lifeboat scheme.
Emma Barrow, head of communications at the FSCS, said: “We know FSCS protection contributes to consumers’ confidence in financial services in the UK. So, we are reaching out to those who have lost money and may be able to benefit from that protection by claiming against a firm that has failed.
“Customers can claim directly with FSCS for free via our website, which provides the easy-to-use service they expect. Help is on hand throughout the process, with claims experts available through web chat or over the phone.”