Sheffield wealth manager Green Wealth Management Limited (FRN: 729066) has been declared in default by the Financial Services Compensation Scheme after being unable to meet claims against it.
The firm was declared in default yesterday.
The FSCS said it had received eight claims relating to pensions advice and one has been upheld triggering the default declaration.
The FSCS said several of the pension claims were related to the British Steel Pension Scheme.
The firm was based in Aston, Sheffield, South Yorkshire and went into voluntary liquidation in 2021. It ceased to be authorised by the FCA after August 2025.
The declaration of default by the FSCS means that it will step in to pay compensation to ex-clients of the firm, up to £85,000 per successful claim.
The FCA register shows three individuals connected to firm: Howard Green, Dominic Jacob Green and Rachel Selwood.
The firm is the second this week to be declared in default after Campbell & Associates Independent Financial Advice Ltd (FRN: 602550) failed. Its director has been facing a £2.3m fraud charge. The FSCS has received nine claims against the firm relating to pensions and investments advice, with one upheld triggering the default declaration.