Bristol-based SIPP and SSAS pensions and financial services firm Hartley Pensions has bought another closed or failed SIPP firm, this time snapping up Guinness Mahon Trust Corporation (GMTC).

The Financial Services Compensation Scheme (FSCS) is to pay compensation to 2,500 clients of discretionary fund manager Strand Capital, which became insolvent in 2017.

Administrators have been appointed at mini-bond and ISA firm London Capital & Finance (LCF), which has 14,000 bondholders with holdings totalling £236m.