The Financial Services Compensation Scheme (FSCS) has declared 13 financial advice firms in default and invited customers to come forward with their claims.
The scheme is able to compensate individuals with up to £50,000 per person per firm for investments and home finance-related claims when it is satisfied that the firm is unable to pay claims for compensation against it (and has defaulted after 2009). FSCS head of communications Mark Oakes said: "We have already started paying compensation in respect of these firms. However, we are encouraging anyone who has not been contacted by us and believes they may be owed money as a result of their dealings with either one of these firms to get in touch with the FSCS." The financial advice firms...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
