West Yorkshire advice firm declared failed

Fifth FSCS firm failure of 2025

Jen Frost
clock • 2 min read

Reis Financial Planning, of Holmfirth in West Yorkshire, has become the latest financial advice business to be declared failed by the Financial Services Compensation Scheme (FSCS).

The financial planning firm was declared in default by the FSCS today, following the first claim against it being upheld. The single claim to date relates to pension transfers, the FSCS confirmed to PA. The claim was not related to British Steel Pension Scheme (BSPS) advice. The West Yorkshire company was dissolved in late October 2023, according to Companies House filings. It ceased to be Financial Conduct Authority Authorised (FCA) in June of 2023. Yesterday (19 February), the FSCS confirmed that its investigation into another advice firm, Independently East, is nearing completio...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

Jen Frost
Author spotlight

Jen Frost

Editor at Professional Adviser

More on Regulation

FCA and FOS joint statement: Targeted support complaints are 'different'

FCA and FOS joint statement: Targeted support complaints are 'different'

Targeted support is a one-off service and does not involve ongoing suitability assessments

Jenna Brown
clock 11 December 2025 • 2 min read
The confidence gap: Why isn't wealth translating into investment

The confidence gap: Why isn't wealth translating into investment

'We can all help turn uncertainty into confidence, and savers into stakeholders'

Jo Kite
clock 11 December 2025 • 3 min read
Advice for all: Why targeted support is a once-in-a-generation opportunity

Advice for all: Why targeted support is a once-in-a-generation opportunity

'Mind the gap, and turn targeted support into enduring financial confidence'

Martin Taylor
clock 10 December 2025 • 4 min read