Leicester-based wealth adviser Westerby Investment Management has recruited three new members of staff from Berkeley Burke in an expansion move.

STM Group has acquired Berkeley Burke (Financial Services) and Berkeley Burke Employee Benefit Consultants, which provide administration and consultancy services to SSAS and international businesses, in a deal worth up to £2.9m.

The FSCS yesterday (1 April) declared Berkeley Burke SIPP Administration Ltd a failed firm and opened the door to claims that could eventually top £150m.

The Financial Services Compensation Scheme (FSCS) has received 733 claims against Berkeley Burke Sipp Administration Limited (BBSAL).