Seven advice firms enter default in June and July

Seven financial adviser and Financial Planning firms entered default in June and July.

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Adviser firm fails over endowment claim

 

Leeds-based financial adviser Temple Park Financial Services (FRN 163459) has been declared a failed firm by the FSCS after seven claims related to endowment mortgage sales.

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FSCS investigates 2 failed advice firms

The Financial Services Compensation Scheme is investigating two failed adviser firms hit with multiple claims over pension transfer advice.

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Investment and pension advice top £403m FSCS claims

The majority of the £403m in claims paid by the Financial Services Compensation Scheme in 2022/23 were due to investment and pension advice including SIPP operator failures.

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