The firm was declared in default by the FSCS on Friday with three claims against it.

All of the claims are pension transfer related, but not BSPS-connected, the FSCS said.

The declaration of default opens the doors to former clients of H&F to claim compensation from the FSCS.

H&F, which is now in liquidation, is a relatively new firm. It was incorporated in 2016 and registered with the FCA in 2017. 

The firm described itself as “a retirement specialist” offering advice to individuals and businesses. It is the latest in a string of advice firms to have failed since the beginning of the year.

So far this year 10 adviser firms have failed and been declared in default by the FSCS.

The firms include: Aquila Financial Services, Portal Financial Services LLP, Better Retirement Group Ltd formerly Directly Financial Ltd, Financial Strategy Ltd, Braemar Wealth Management NW Ltd, Broadgate Financial Management LLP, Vintage Investment Services, trading as Vintage, Vintage Protect, Vintage Mortgages, Plan Your Retirement Ltd, Cadogan Asset Management Ltd, Midhurst Asset Management Ltd, formerly Legistshelfco No 122 Ltd and Nurture Financial Planning Ltd trading as Premier IFA Ltd.

• Last week the FSCS reported that a total of 13 financial firms had defaulted in December and January.