FSCS confirms four firms have been declared in default in April and May

Regular notice that consumers could be in line for compensation 

FSCS has confirmed that the four firms below are in default – which means they have gone out of business and are unable to meet any claim themselves. Customers who are owed money by these firms can see how they’re protected by visiting the FSCS website at https://www.fscs.org.uk/what-we-cover/.  

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

We’re independent and our service is free to customers. Our protection covers money held in bank, building society and credit union accounts, as well as pensions.  FSCS also protects financial advice, insurance, investments, mortgage advice and arranging, debt management and funeral plans. Customers keep all the compensation they’re owed when they claim directly through us. 

Sarah Marin, FSCS’s Chief Customer Officer, said “We’re proud to be able to help people, families and businesses get back on track when financial companies fail. Our customers come from all walks of life and are often vulnerable. In 2022/2023, our team of claims handlers have helped 67,908 customers get the compensation they are due. We know that losing money can be a stressful experience and we’ll do all we can to make the compensation process simple and straightforward for our customers.” 

Visit https://claims.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 020 7741 4100, or by email at enquiries@fscs.org.uk.  

For the latest FSCS news and information visit https://www.fscs.org.uk/ or follow @FSCS on Twitter. 

Declaration by FSCS from 1 April 2023 to 31 May 2023 (four firms):  

  • SQ Wealth Limited, formerly Quays Wealth Management Limited (FRN 707844) International House, 61 Mosley Street, M2 3HZ 
  • Old Park Capital Limited (FRN 504863), 6th Floor, 52 Grosvenor Gardens, London SW1W 0AU 
  • Wellington Court Financial Services Limited (FRN 465455), St Isidore Farm, Combe Raleigh, Honiton, EX14 4TG 
  • Pacific IFA Limited (FRN 490522), 98-100 High Road, Rayleigh, SS6 7AE

Media enquiries: 
Email: publicrelations@fscs.org.uk