Kent-based financial advice firm Christopher Barker, trading as Apollo Pension & Investment Advisers (FRN: 470611), has been declared in default by the Financial Services Compensation Scheme.

The FSCS decision opens the door to ex-clients of the firm to claim compensation of up to £85,000 per successful claim.

The failed firm was based in Rochester in Kent.

The FSCS said the firm was declared in default today (6 June) when the first claim against it was upheld. The FSCS said it has received five claims against the firm relating to investments advice.

The firm was first authorised in July 2007 under the name The Apollo Partnership, according to the FCA Register.

In September 2009 it changed its name to Apollo Pension & Investment Advisers. It also traded under the name National Pension Advice & Transfer Bureau between March 2009 and July 2010.

According to the adviser website Unbiased, Apollo was established in 1994 in Gillingham by Christopher Barker, a Chartered Financial Planner.

The FCA Register records that Mr Barker had various approved roles at the firm from November 2007 until 5 June this year.

He had previously been at TenetConnect Limited from 2001 to 2007 where he was authorised as an investment adviser and as a pension transfer specialist.

Earlier this week North East-based financial advice firm PCM Asset Management Limited (FRN: 589116) was declared in default by the FSCS.