13 firms have been declared in default by FSCS in December and January

Regular notice that consumers could be in line for compensation 

FSCS has confirmed that the 13 firms below are in default – which means they have gone out of business and FSCS believes they are unable to meet any claims themselves. This means that any customers who are owed money by them can see how they’re protected by visiting FSCS here - https://www.fscs.org.uk/what-we-cover/.

If a regulated financial firm is no longer trading and can't pay a customer’s claim, FSCS can step in to pay compensation.

We’re independent and our service is free to customers. Our protection covers money held in bank, building society and credit union accounts, and FSCS also protects insurance, investments, mortgage advice and arranging, debt management and funeral plans. Customers keep all the compensation they’re owed when they claim directly through us.

Fiona Kidy, FSCS’s Chief Financial Officer said: “Customers of financial firms that have failed or are no longer trading can make a claim to us and we’ll do all we can to compensate them. Our service is free, and customers keep all the compensation they’re due if they claim directly with us. So far this financial year FSCS has handled over 90,000 claims.”

Visit https://claims.fscs.org.uk/ if you wish to make a claim with FSCS against any of these firms. You can also contact our Customer Services Team on 0800 678 1100 or 020 7741 4100, or by email at enquiries@fscs.org.uk.

For the latest FSCS news and information visit www.fscs.org.uk or follow @FSCS on Twitter.

Declarations by FSCS from 1 December 2022 to 30 January 2023 (13 firms):

  • Better Retirement Group Ltd formerly Directly Financial Ltd, Financial Strategy Ltd (FRN 153420) 400 pavilion drive Northampton NN4 7PA
  • Aquila Financial Services (FRN 539133), 9 Regent StreetBarnsley, South Yorkshire, S70 2EG
  • Broadgate Financial Management LLP (FRN 589112), 23 The Green, 1st Floor Broadgate HouseBillinghamTS23 1ES
  • Cadogan Asset Management Limited (FRN 749342), 85 Great Portland Street, London, W1W 7LT
  • Midhurst Asset Management Limited (FRN 154333), 3 St John's Church Road, Homerton, London, E9 6EJ
  • Braemar Wealth Management NW Limited (FRN 425022) 95A Wood Lane, Timperley, Altrincham, WA15 7PG
  • Nurture Financial Planning Limited t/a Premier IFA Limited (FRN 496332), Lawrence House, 5 St. Andrews Hill, Norwich, Norfolk, NR2 1AD
  • Vintage Investment Services t/a Vintage, Vintage Protect, Vintage Mortgages (FRN 142806) Vintage House, 3a Lockheed Court, Stockton-on-tees, Cleveland, TS18 3SH
  • Plan Your Retirement Limited (FRN 476475) 1st Floor, 10 Church St, Kidderminster DY10 2AD
  • A+ Financial Services Limited t/a aplus independent financial advice, Grosvenor Trust & Saving, aplus (FRN 222159) Unit 16 Sovereign Park, Cleveland Way Hemel Hempstead Industrial Estate Hemel Hempstead Hertfordshire HP2 7DA
  • FSC Investment Services Limited formerly Ashwood Wealth Management Limited (FRN 441650), 264 Banbury Road, Oxford, OX2 7DY
  • Craig Mitchell t/a Craig Mitchell Personal and Corporate Financial Planning (FRN 624013), 4 Abbotsford Lane, Hamilton, ML30RR
  • Premier Wealth Management Harrogate Limited (FRN 752619), Afh House, Buntsford Drive, Stoke Heath Bromsgrove, B60 4JE

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Notes for editors

About FSCS 

FSCS is the UK's statutory compensation scheme that protects customers of authorised financial services firms. FSCS can pay compensation if an authorised firm is unable to pay back money it owes to customers in connection with a regulated activity. FSCS was set up by Parliament in 2001 and is funded by the financial services industry. FSCS protects deposits, pensions, investment business, home finance (mortgage) advice, life and general insurance, insurance broking and debt management. FSCS can pay compensation if the regulated firm owes a civil liability to a customer of an authorised firm, for example due to negligence, in connection with the regulated activity.   

FSCS is an independent body, set up under the Financial Services and Markets Act 2000 (FSMA), and does not charge individual consumers for using its services. Information about our current compensation limits is available here

Declaring a firm in default 

Before FSCS can pay compensation, it must be satisfied that an authorised financial services firm is not in a financial position to meet claims against it (e.g. if the firm has failed and entered an insolvency process such as administration or liquidation). FSCS describes this as being ‘in default'.

FSCS will declare a firm in default if it has received at least one claim; and is satisfied that the firm is unable to return money to eligible customers itself. FSCS is required to do this before it can pay compensation to eligible customers. 

Declaring a firm in default allows private individuals who have suffered actual financial loss as a result of their dealings with that firm to apply to FSCS. Some businesses and charities may also be eligible, depending on the type of claim. 

Authorised firms 

Dealing with a Financial Conduct Authority (FCA) or Prudential Regulation Authority (PRA) authorised firm that is carrying out certain authorised activities gives consumers access to the Financial Ombudsman Service and FSCS. Consumers can check that the firm they are dealing with is authorised by using the FCA's Financial Services Register