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Four IFAs placed in default in latest FSCS list

FSCS Interior 480The Financial Services Compensation Scheme has declared nine firms default, included at least four financial advisers, in its latest list of collapsed firms.

Advice firms included on the list covering July are London-based Talk Financial Solutions, Kent firm Accuro Finance Limited, Birmingham-based Ashfield Financial Planning and R W Harris Limited trading as Roger Harris and Company and as Greystone Wealth Management in Cheshire.

Insurance firms, mortgage brokers, and one IT firm specialising in finance make up the rest of the FSCS’ list.

Customers from the failed financial firms could now be in line for FSCS compensation.

The FSCS is calling on affected customers to lodge claims.

Its latest figures show the lifeboat fund has paid out more than £26bn in compensation since it was founded in 2001.

FCA takes unauthorised investment scheme to court

FSCS chief corporate affairs officer Alex Kuczynski says: “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. This vital service protects your deposits, investments, home finance and insurance.”

Thirteen advice firms across England, Wales and Scotland were  declared in default by the FSCS between May and June.

This follows Money Marketing’s news last month that that a second advice firm involved in the British Steel Pension Scheme collapse went into liquidation.

Barnsley-based Retirement & Pension Planning Services joins Midlands IFA Active Wealth, which was liquidated in February.

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