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Dozen UK firms went bust between August and September 2021

Nine were financial advice, pension and insurance services providers


The Financial Services Compensation Scheme (FSCS) declared 12 companies in default during August and September 2021.

These include nine financial advisory, life insurance and pension firms, two forex trading businesses, and a car dealership.

Sarah Marin, chief customer officer at FSCS, said: “FSCS is here to contribute to financial stability in the UK. FSCS protection increases consumer confidence when buying financial products and services, and our compensation helps put customers back on track should financial firms fail.

“Compensation may be available if people have suffered losses due to the failure of a financial services firm. We are a free and independent service and customers can claim directly from us.”

The firms are:

  • Advicelite – trading as Investorlite, Isalite, Pension & Investor Lite – in Telford, Shropshire; August 2021;
  • AFX Markets – trading as STO, Quantic Prime, Tradealot, XSecurities, EloFX – in London; August 2021;
  • BPI 55 – trading as Broadstone Pensions & Investments, BDO Investment Management – in London; August 2021;
  • City of London Markets – trading as Berkeley Capital – in London; August 2021;
  • Omada Investment Management – trading as Fairfax Investment Management – in London; August 2021;
  • Thomson Brown Financial Management – trading as Audley Asset Management – in Eskbank, Midlothian; August 2021;
  • CFP Management, in Birmingham; September 2021;
  • Clear Capital Management – trading as Clear Advice, Kalis Capital – in Nottingham; September 2021;
  • Coniston Wealth Management – trading as Lighthouse (Coniston) – in Colchester, Essex; September 2021;
  • David Meek – trading as David Meek Daewoo, David Meek Group, David Meek Proton – in Torquay, Devon; September 2021;
  • S Financial Advice Service, in Glasgow; September 2021; and,
  • Rock Financial Consultants 2002, in Port Talbot, West Glamorgan.

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