FSCS declares three financial advisory firms in default

Latest batch of failed firms revealed by lifeboat fund

Jenna Brown
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) has declared three advice firms in default today (25 March).

Notices on the FSCS website said Abbey Lane Financial Associates, Aqua Financial Services (formerly Aqua IFA) and Fresh Financial Solutions had all officially failed. The FSCS said Birmingham-based Abbey Lane Financial Associates – which had advised on British Steel pensions transfers – entered liquidation in March and was under investigation. It said it was now considering claims against the firm.  The FSCS said Abbey Lane Financial Associates had garnered 44 claims linked to pension transfer advice, one was rejected while another was upheld, triggering its default. The other 42 are ...

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 Regulation

FCA must still fix investing culture, says LSE CEO

FCA must still fix investing culture, says LSE CEO

‘We’ve protected people from the downside but we haven’t exposed the upside’

Sophia Panayi
clock 20 May 2026 • 1 min read
FCA increases support for solo-regulated firms

FCA increases support for solo-regulated firms

Scale-up Unit now available to solo-regulated businesses

Jenna Brown
clock 20 May 2026 • 1 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 15 May 2026 • 1 min read