The Financial Services Compensation Scheme has published its latest list of defaulted firms, with financial and investment advice firms accounting for more than half.
A total 12 advice firms are named on the list of 21 firms, along with London-based investment specialist Vantage Investment Group.
London-based adviser Sequant Capital Limited has been named on the list but is still registered as an authorised firm on the FCA Register. It also has current passporting agreements with 30 countries in the European Economic Area.
Adviser John Henry Moore of East Sussex is also on the FSCS’ list, along with Kent-based Susan Fleck Associates and Dorset firm Synergie Financial Planning.
Peterborough-based GD Tancred Limited has been declared in default, while the lifeboat fund will also pick up Worcestershire firm Magna Wealth Management and Birmingham-based TBO Investments.
Three firms in the North West and two in the North East are also on the list.
The FSCS has placed York-based Premier Financial Solutions, Humberside firm Kennett Investment, Life & Pensions and Cheshire-based Pensionology UK into default.
Rounding out the latest list is Abrams Ashton & Co Financial Services in Blackpool and Lancashire-based Greg Smith Financial & Insurance Services.
The FSCS will place firms in default if it they have received at least one claim and is satisfied it is unable to return money to its client.