The Financial Services Compensation Scheme (FSCS) is the industry-funded safety net for consumers when regulated firms fail.
Wednesday, 11 June 2025 10:09
Details: FSCS declares 12 firms in default
The FSCS has declared 12 regulated firms in default over the past two months, according to its latest failed firms list published today.
The consumer compensation body also revealed details of the top 5 firms in terms of compensation paid out so far this financial year.
Three of the top five firms in terms of compensation paid out this year were financial advice or wealth management firms.
A declaration of default means the firms have gone out of business and are unable to meet claims themselves. The default declaration also means at least one successful claim has been upheld against each firm.
The Financial Services Compensation Scheme (FSCS) is the industry-funded safety net for consumers when regulated firms fail.
Defaults declared by FSCS from 1 April to 31 May 2025:
|
Firm |
Address |
Date declared in default |
|
Inspirational Financial Management Ltd, trading as IFM Retirement Solutions (FRN 223511) |
Abacus House Pennine Business Park, Longbow Close, Huddersfield, West Yorkshire, HD2 1GQ |
3 April 2025 |
|
Attanta Ltd, formerly Neovision Wealth Management Ltd (FRN 301621) |
Suite 18 Ealing House, 33 Hanger Lane, London, W5 3HJ |
3 April 2025 |
|
Jacob Hopkins McKenzie Ltd (FRN 793392) |
40 The Drive, Esher, Surrey, KT10 8DJ |
4 April 2025 |
|
Executive Benefit Consultancy Ltd (FRN 207482) |
EBC House, 26 Blythswood Square, Glasgow, G2 4BG |
7 April 2025 |
|
Money Advice Partnership Ltd, formerly FML Wealth Ltd (FRN 715880) |
Farragon, Petersmuir Road, East Saltoun, Tranent, East Lothian, EH34 5EB |
8 April 2025 |
|
JG Wealth Management Ltd, formerly Johnston Gray & Wardrop Ltd (FRN 165729) |
17 Fitzroy Place, Glasgow, G3 7RW |
16 April 2025 |
|
Mr G and Mrs P Speller, trading as Solutions Financial Services (FRN 457106) |
3rd Floor, 86-90 Paul Street, London, EC2A 4NE |
24 April 2025 |
|
Raedex Consortium Ltd, trading as Wheels4Sure, Rent2OwnCars (FRN 668924) |
1 Bell Parade, Glebe Way, West Wickham, Kent, BR4 0RH |
30 April 2025 |
|
Berkeley Jacobs Financial Services Ltd (FRN 158901) |
1 Gresham Street, London, EC2V 7BX
|
30 April 2025 |
|
IFA Ltd, trading as Cowburn Milner & Company Ltd (FRN 433928) |
Allied House, 98 Standishgate, Wigan, Lancashire, WN1 1XA |
1 May 2025 |
|
AXG Advice Ltd, formerly The Salmon Financial Partnership Ltd (FRN 450813) |
Mocatta House Trafalgar Place Brighton BN1 4DU |
2 May 2025 |
|
Central Markets Investment Management Ltd (FRN 475828) |
2 Minster Court, London, EC3R 7BB |
28 May 2025 |
Source: FSCS 11 June 2025
Top 5 in terms of compensation paid out this financial year (at end of May)
|
Firm |
Date declared in default |
Compensation paid at 31 May 2025 |
|
Raedex Consortium Ltd trading as Wheels4Sure, Rent2OwnCars (FRN 668924) |
30 April 2025 |
£350,000 |
|
Attanta Limited formerly Neovision Wealth Management Ltd (FRN 301621) |
4 April 2025 |
£116,000 |
|
Berkeley Jacobs Financial Services Ltd (FRN 158901) |
30 April 2025 |
£50,000-£100,000 |
|
Mr G and Mrs P Speller t/a Solutions Financial Services (FRN 457106) |
24 April 2025 |
£50,000-£100,000 |
|
Executive Benefit Consultancy Ltd (FRN 207482) |
7 April 2025 |
£50,000-£100,000 |
Source: FSCS 11 June 2025
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