Cambrian Associates Ltd (FRN 158976), an adviser firm based in North Wales, has gone into administration 51 years after being set up.

Leeds-based adviser IFA Ltd, trading as Cowburn Milner & Company Limited (FRN 433928), has been declared in default by the Financial Services Compensation Scheme.

The FSCS has today published details of the 13 regulated firms declared in default in the last two months and revealed details of the top 5 firms - in terms of compensation paid out - so far this year. 

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