Former Milton Keynes financial adviser firm Mike Norris Financial Services (FRN 542126) has been declared as failed by the Financial Services Compensation Scheme.

The move opens the doors to ex-clients to claim compensation against the firm from the FSCS.

The FSCS said there have been six claims so far against the firm, “all relating to unsuitable pension advice.”

The FSCS said one claim has been upheld, two have been rejected and three remain open.

It said the firm has no connection to the BSPS pensions scandal.

Mike Norris Financial Services was authorised by the FCA in August 2011 and applied to cancel its authorisation in January this year, according to the FCA’s Register.

It appointed a voluntary liquidator in September 2022 and moved its registered address from Milton Keynes to St Albans.

According to a filing on Companies House it had estimated total assets at September 2022 of £24,245 and an estimated total deficit of £156,611.