The FSCS declares two firms in London and Kent in default

Lifeboat fund says Maymont Wealth and Cheshire Trafford have failed

Sahar Nazir
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) has declared two financial advice firms in default.

London firm Maymont Wealth and Kent-based firm Cheshire Trafford were both declared failed on 21 July. Cheshire Trafford, which was previously named Cheshire Trafford (Yorkshire) & Co, has not been authorised to provide regulated activities and products since 27 January 2023, according to the Financial Conduct Authority's (FCA) register. There is also an active proposal to strike off the company on Companies House. The FSCS told Professional Adviser that it has received four claims against Cheshire Trafford relating to pension advice transfer and investments, and seven claims relat...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

London's millionaire exodus: Advisers will 'undeniably' see wealthy clients move abroad

London's millionaire exodus: Advisers will 'undeniably' see wealthy clients move abroad

Labour's budget ‘main reason' for latest UK exits

Isabel Baxter
clock 17 April 2025 • 6 min read
UK inflation drops to 2.6% in March amid warnings of further price rises

UK inflation drops to 2.6% in March amid warnings of further price rises

Down two percentage points

Sorin Dojan
clock 16 April 2025 • 2 min read
Rewriting the rules of engagement: Innovating for the future of wealth and financial advice

Rewriting the rules of engagement: Innovating for the future of wealth and financial advice

‘Hyper-personalisation and fintech disruptors are reshaping financial advice’

Sneha Shah
clock 15 April 2025 • 3 min read