FSCS declares Yorkshire-based advice firm in default

The lifeboat fund received eight claims against the firm

Ayesha Venkataraman
clock • 1 min read

The Financial Services Compensation Scheme (FSCS) has named Aquila Financial Services in default.

The South Yorkshire-based firm, trading as Morrison Watts Mortgage Advisers, Aquila Will & Estate Planning Services and formerly, Ridings Wealth, was restricted from providing regulated activities and products by the Financial Conduct Authority (FCA) 1 March 2019, according to the FCA register. The firm's co-director Robbie John Gainey also held compliance oversight and money laundering reporting roles. The firm was dissolved on 4 July 2017, according to Companies House. In its abbreviated unaudited accounts for the year ending 31 August 2014, it owed £18,801 to creditors, falling due...

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