UK FSCS Confirms 7 Firms in Default Between June and July 2023

The Financial Services Compensation Scheme (FSCS​), the UK's statutory Deposit insurance and investors compensation scheme, has declared seven firms in default from 1 June 2023 to 31 July 2023, which is more than the figure of the prior two months.

The seven firms confirmed to be in default after FSCS' investigations include the following:

• Thomas Financial Ltd (FRN 473555) The Hollies, Isca Road, Caerleon, Newport, Gwent, NP18 1QG

• MacFarlaine & Brooks IFA Ltd (FRN 612753) 651a Mauldeth Road, West Chorlton, Manchester M21 7SA

• Wealthmasters Financial Management Ltd trading as Gryphon Capital, Invictus Wealth, Sydney Charles UK (FRN 536087) Atlantic House, Charnwood Park, Bridgend, Mid Glamorgan, CF31 3PL

• Prism Independent Financial Advisers Ltd (FRN 515431) 22 Risca Road Newport Gwent NP20 4JW

• Maymont Wealth Limited formerly GWM Investment Management Limited t/a Discover Wealth (FRN 629098) 3rd Floor, 33 Bruton Street, London, W1J 6QU

• Cheshire Trafford U.K. Limited formerly Cheshire Trafford (Yorkshire) & Co. Limited (FRN 115194) 34 St. Augustines Gate, Hedon, East Yorkshire, HU12 8EX

• Temple Park Financial Services (FRN 163459) 12 Templegate Walk, Leeds, West Yorkshire, LS15 0EU

Chief Communications Officer at FSCS, Lila Pleban, said: "In the last financial year, FSCS paid out over £400m in compensation, helping almost 68,000 people get back on track financially. We know it’s stressful when a firm goes bust owing its customers money but our expert claims handlers do everything they can to make our free compensation process as easy as possible."