FSCS in-default register

West Wales Financial Services Ltd, trading as IWA Financial Solutions, and Mike Powell Mortgages

Declared in default19 November 2021FRN 756482

What this means for you

Because West Wales Financial Services Ltd, trading as IWA Financial Solutions, and Mike Powell Mortgages has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.

Background

West Wales Financial Services Ltd, trading as IWA Financial Solutions and Mike Powell Mortgages (FRN 756482), was declared in default by the FSCS on 19 November 2021. The firm offered pension and investment products to customers. Former customers with eligible claims may receive compensation up to £85,000 per person for investment losses under the FSCS protection scheme.

Products this firm wrote

Pensions, Investments

How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.