The FSCS has revealed that some compensated clients are losing their money a second time when they invest with another firm which also goes on to fail.

The latest edition of our sister Financial Planning Today Magazine is out now and includes an exclusive Cover Feature on how Financial Planning professionals are using the latest planner technology to beat the pandemic and work "faster, better and smarter."

The Financial Services Compensation Scheme declared 45 firms in default between May and October, including several Financial Planning, SIPP and wealth management firms.

The Financial Services Compensation Scheme (FSCS) has boosted the Temporary High Balance (THB) protection for deposits of up to £1m from six to 12 months for deposit-taker failures which take place from Thursday.