Clients of failed Newcastle-based wealth manager WealthTek LLP will make a smaller contribution to the costs of the administration than previously estimated, after a fresh judgment in the case last week.

Failed SIPP operator Intelligent Money has been declared in default today by the Financial Services Compensation Scheme, opening the door to ex-clients with valid claims to receive compensation.

The Financial Services Compensation Scheme has declared Leeds-based pension transfer adviser Gainsborough Financial Services (FRN: 145971) in default.

Staffordshire-based advice firm Norrix Financial Services Ltd (FRN: 224577) has been declared as in default by the Financial Services Compensation Scheme (FSCS).

The Financial Services Compensation Scheme has made a first payment of £26.6m to the Joint Special Administrators of failed Newcastle-based wealth manager WealthTek LLP.

A Shropshire-based pension adviser - an appointed rep of failed firm Tenet Connect Limited - has itself been declared as failed by the Financial Services Compensation Scheme, opening the door to compensation claims.

A Midlands-based pension adviser firm has failed and been declared in default by the Financial Services Compensation Scheme, the industry compensation safety-net.

The Financial Services Compensation Scheme today declared former national IFA, pensions and employee benefits firm LEBC Group Ltd (FRN: 760755) in default after receiving 218 claims against the firm.

The Financial Services Compensation Scheme, the industry compensation safety net, has declared three firms as failed or under investigation in the last few days, opening the door to potential claims from clients.

The Financial Services Compensation Scheme has declared in default Cornwall-based investment firm European American Capital Services Limited which traded as EA Capital (FRN: 401897).

The Financial Services Compensation Scheme (FSCS) - the industry’s consumer compensation safety-net - has declared six firms in default over the past two months.

Scottish Financial Planning partnership Advice & Wealth Management Solutions LLP has been declared in default by the Financial Services Compensation Scheme (FSCS).

Elizabeth Passey, currently a senior adviser at investment house J Stern and Company, has been appointed chair of the Financial Services Compensation Scheme’s board from today.

The Financial Services Compensation Scheme, the consumer financial safety net service, has declared a wealth manager as failed, opening the door to clients to claim compensation.

The Financial Services Compensation Scheme has declared two pension adviser firms as failed.

A wealth manager and Financial Planner firm, Facet Investment Management Limited, has gone into administration.

The Financial Services Compensation Scheme has declared BSPS-linked adviser firm Mark Peter Houlbrook (FRN: 498168) in default over pension transfer advice, opening the door to compensation for ex-clients with valid claims.

The Financial Services Compensation Scheme (FSCS), the safety net scheme for consumers, paid out £423m in compensation to customers during its 2023/24 year, £20m higher than the previous year.