On 26 September 2024, the Financial Services Compensation Scheme (FSCS) declared Colbourne & Company in default. This means the firm is no longer trading.
Colbourne & Company (FRN: 125003) is a sole trader and is authorised and regulated by the FCA. The firm has a range of permissions which include:
- assisting in administration of insurance
- arranging deals in investments
- making arrangements
- advising (ex Pension Transfers/Opt outs)
- advising on P2P agreements
On 23 June 2022, we placed restrictions[1] on Colbourne & Company, stopping it from carrying out any regulated activities and preventing it from reducing the value of assets it holds without the consent of the FCA, due to concerns about the way it conducts its business.
On 26 September 2024, the FSCS declared the firm in default. This means the firm is no longer trading and customers may be able to make a claim with the FSCS.
Who to contact if you are/were a customer
Customers of Colbourne & Company should contact the FSCS if you wish to make a claim.
- Helpline: 0800 678 1100
- Website: Colbourne & Company - check you can claim | FSCS[2]
What should investors do now?
What should I do if I have an ongoing case at the Financial Ombudsman Service?
If you’ve already referred a complaint to the Ombudsman, they will contact you in due course about next steps. You don’t need to take any action, but you can contact the Ombudsman if needed:
- Phone: 0800 023 4567
- Email: [email protected]
- Website: www.financial-ombudsman.org.uk[3]
What is the FSCS and will I get compensation?
The FSCS is designed to protect consumers when UK financial services firms go out of business.
The FSCS have declared Colbourne & Company in default. You can check if you are eligible for compensation on the FSCS website[2].
Find out more about what the FSCS covers and compensation limits[4].
Do I need to use a claims management company (CMC)?
A claims management company (CMC) may approach you offering to help you bring a claim.
You should proceed with caution if you are approached by one of these companies. For most clients, there will be no benefit in involving a third party to make a claim against Colbourne & Company.
If you use a CMC to make a claim, they are likely to seek a fee[5], which may reduce what you get back.
Be alert to scams
All customers should stay alert to the possibility of fraud.
If you get an unexpected call from someone claiming to be from Colbourne & Company you should:
- end the call straight away
- Find out how to protect yourself from scams