The FSCS has declared Leicester-based Trust Financial Planning Limited (FRN: 407457) in default.
It said it has received 13 claims against the firm related to investment advice, with one claim being upheld, triggering the default declaration.
The default opens the door for the industry-funded consumer compensation net to pay up to £85,000 per claim to ex-clients with successful claims.
The FSCS said the firm failed on 30 April. In February the FSCS said: “We have concluded our investigation into Trust Financial Planning regarding the preference shares and Trust Bonds issued by the firm.
“We consider that some customers may be eligible for compensation. Each claim will be considered on an individual basis and under rules, as set for us by the FCA.
:The assessment team will contact customers as soon as they are able to start reviewing each claim. Please note we can’t confirm exactly when we’ll process any individual claim.”
Trust Financial Planning was a small independent financial advice firm that had been authorised by the UK regulators since 2004.
It was founded in December 2001 by New Zealander Daniel Gerald Scott Brittenden. The firm was an appointed representative of Grosvenor (FP) Limited between 2001 and 2004.
The firm described itself as a holistic Financial Planning firm with a focus on responsible engagement, “implementing a Christian vision” of financial advice.
It has not had permission to conduct investment activity since 1 March 2021. Since that time, it has only had permissions to conduct insurance, mortgage and credit broking activities.
The firm became subject to voluntary requirements, including stopping all regulated activity, on 19 March 2025.
On 7 August 2025, Paul Stanley and Dean Watson of Begbies Traynor were appointed as joint liquidators of Trust Financial.
The director of the firm, which focused on 'a Christian vision' of financial advice, chose to put them firm into creditors’ voluntary liquidation after taken advice about its financial position.
Investors in the firm held what Mr Brittenden called 'Trust Bonds'. The FCA has urged those who believe they are owed money by the firm under these trust bond arrangements to contact the liquidators.