FSCS declares three advice firms in default in July

The lifeboat fund named Birmingham-based Ashfield Financial Planning, Manchester-based Care Asset Management, and Roger Harris and Co/Greystone Wealth Management in Cheshire. Professional Adviser in 2011 reported the latter was named by FSCS lawyers investigating the investment scandal as a firm who invested clients in Keydata products. Six other financial services firms were declared in default by the FSCS in July. A declaration of default means the FSCS is satisfied a firm is unable to pay claims for compensation made against it. Clients of that firm are then able to make a claim...