FSCS confirms 12 firms were declared in default in April and May 2025

Unsplash - 11/06/2025

FSCS has confirmed that the 12 firms below were declared in default in the last two months – which means they have gone out of business and are unable to meet any claims themselves.

Customers who may be owed money by these firms can find out how to make a claim by visiting the FSCS website at www.fscs.org.uk/making-a-claim.

If a regulated financial firm is no longer trading and cannot pay a customer’s claim, FSCS can step in to pay compensation if certain requirements are met.

We’re independent and our service is free to customers. Our protection covers money held in bank, building society and credit union accounts. FSCS also protects pensions, financial advice, insurance, investments, mortgage advice and arranging, debt management and funeral plans.

Denise Farthing, Head of Operations at FSCS said: “The claims process might seem daunting when you have lost money as a result of a financial firm going out of business, but our skilled claims handlers are there to help at each stage of the claims journey. Customers can claim directly via our website, safe in the knowledge that they will keep 100% of any compensation they are due.”

Visit www.fscs.org.uk if you wish to make a claim with FSCS against any of these firms. You can also contact our Customer Services Team on 0800 678 1100, or by email at enquiries@fscs.org.uk.

For the latest FSCS news and information visit www.fscs.org.uk or follow @FSCS on X (Twitter).

Defaults declared by FSCS from 1 April to 31 May 2025 (12 firms): 

FirmAddressDate declared in default
Inspirational Financial Management Ltd, trading as IFM Retirement Solutions (FRN 223511)Abacus House Pennine Business Park, Longbow Close, Huddersfield, West Yorkshire, HD2 1GQ3/04/2025
Attanta Ltd, formerly Neovision Wealth Management Ltd (FRN 301621)Suite 18 Ealing House, 33 Hanger Lane, London, W5 3HJ3/04/2025
Jacob Hopkins McKenzie Ltd (FRN 793392)40 The Drive, Esher, Surrey,
KT10 8DJ
4/04/2025
Executive Benefit Consultancy Ltd (FRN 207482)EBC House, 26 Blythswood Square, Glasgow, G2 4BG7/04/2025
Money Advice Partnership Ltd, formerly FML Wealth Ltd (FRN 715880)Farragon, Petersmuir Road, East Saltoun, Tranent, East Lothian, EH34 5EB8/04/2025
JG Wealth Management Ltd, formerly Johnston Gray & Wardrop Ltd (FRN 165729)17 Fitzroy Place, Glasgow, G3 7RW 16/04/2025
Mr G and Mrs P Speller, trading as Solutions Financial Services (FRN 457106)3rd Floor, 86-90 Paul Street, London, EC2A 4NE24/04/2025
Raedex Consortium Ltd, trading as Wheels4Sure, Rent2OwnCars (FRN 668924)1 Bell Parade, Glebe Way, West Wickham, Kent, BR4 0RH 30/04/2025
Berkeley Jacobs Financial Services Ltd (FRN 158901)1 Gresham Street, London, EC2V 7BX30/04/2025
IFA Ltd, trading as Cowburn Milner & Company Ltd (FRN 433928)Allied House, 98 Standishgate, Wigan, Lancashire, WN1 1XA1/05/2025
AXG Advice Ltd, formerly The Salmon Financial Partnership Ltd (FRN 450813)Mocatta House Trafalgar Place Brighton BN1 4DU2/05/2025
Central Markets Investment Management Ltd (FRN 475828)2 Minster Court, London, EC3R 7BB28/05/2025

Of the 12 firms FSCS has declared in default this financial year, the top five by compensation paid out (at the end of May) are:

FirmDate declared in defaultCompensation paid at 31/05/2025 (£) 
Raedex Consortium Ltd trading as Wheels4Sure, Rent2OwnCars (FRN 668924)30/04/2025£350,000
Attanta Limited formerly Neovision Wealth Management Ltd (FRN 301621)03/04/2025£116,000
Berkeley Jacobs Financial Services Ltd (FRN 158901)30/04/2025£50,000-100,000
Mr G and Mrs P Speller t/a Solutions Financial Services (FRN 457106)24/04/2025£50,000-100,000
Executive Benefit Consultancy Ltd (FRN 207482)07/04/2025£ 50,000-100,000

We also continue to pay compensation for claims relating to failures declared in previous financial years. We provide full updates on our compensation figures in our regular industry publications which you can find on our website at https://www.fscs.org.uk/industry-resources/other-publications 

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