Consumers could be in line for compensation after FSCS declares eight firms in default

11th May 2018

Consumers could get back money they have lost as a result of their dealings with any of the eight failed financial firms (listed below) the Financial Services Compensation Scheme (FSCS) declared in default during April 2018.

FSCS is the UK’s statutory compensation scheme that protects customers of regulated financial services firms. A declaration of default means FSCS is satisfied a firm is unable to pay claims for compensation made against it. This paves the way for customers of that firm to make a claim for compensation.

Alex Kuczynski, Director of Corporate Affairs at FSCS, said: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust. This vital service, which is free to consumers, protects your deposits, investments, home finance and insurance. We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.” 

Since it began in 2001, FSCS has helped more than 4.5m people, paying out more than £26bn in compensation.

If you wish to make a claim with FSCS against one of these firms, you may be able to do so using its online claims service. Or you can contact its 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 News

Media enquiries

Anthony Ozimic

T: 020 7375 8638

E: publicrelations@fscs.org.uk

 

Declarations by FSCS

from 1st April to 30th April 2018

SOUTH EAST

Full Circle Asset Management Limited, 6 EAST POINT, HIGH STREET, SEAL, SEVENOAKS, KENT,TN15 0EG

WEST MIDLANDS

Munroe James Limited t/a Munroe James Ltd, 1 MOORLAND ROAD, BURSLEM, STOKE-ON-TRENT, STAFFORDSHIRE, ST6 1DJ

Intelligent Financial Planning Limited t/a Intelligent Financial Planning, MITRE HOUSE, 30 THE STRAND, BROMSGROVE B61 8AB

NORTH WEST

Wigan Mortgage and Investment Centre, 107 WIGAN LANE, WIGAN, LANCASHIRE WN1 2LF

EAST

William Albert Securities Limited (formerly t/a Kerford Financial Ltd), SUITE 4, VIJAY HOUSE, 1 STEPHENSON COURT, FRASER ROAD, PRIORY BUSINESS PARK, BEDFORD, BEDFORDSHIRE, MK44 3WJ

WALES

Stanley R Rogers Financial Services t/a Stanley R Rogers, 5 KINGSMILLS ROAD, WREXHAM, CLWYD, LL13 8NH

Bright Financial Partnership LLP, 48 FREE STREET, BRECON, POWYS, LD3 7BN

Strategic Wealth UK Limited t/a Gibro Wealth, BROOK HOUSE, BROOK ROAD, SHOTTON, DEESIDE, CLWYD, CH5 1HL

Jargon Buster

  • Deposits

    money placed in a bank or similar institution to earn interest or for safe-keeping.
  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.
  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).