A Scottish financial adviser firm, which was based at Perth Airport, has failed after a pension claim against the business was upheld by the Financial Services Compensation Scheme.
The firm, G60 Limited (formerly known as Pacific Shelf 989 Limited) was declared in default today.
The FSCS has not provided full details of the pension claim except to say it was a successful claim.
A declaration of default means that the firm cannot meet the full cost of compensation claims against it and the FSCS will step in to pay compensation to ex-clients up to £85,000 per successful claim.
The firm is believed to have been dissolved in 2005 and lost its FCA authorisation in 2004. It appears to have been mainly involved in pension advice
It was based at Harvard House, Perth Airport, Scone, Perthshire.
The FCA Register lists five regulated individuals as having worked for G60, including three CF1 directors, a senior regulatory role.
Regulated individuals working for the firm included: Douglas Stewart Baillie, Robert Neil Burns, Diane Jane Crossan, Douglas Robert Gordon Baillie and Stewart Shaw Downie.
The FSCS has declared five financial advisory firms as failed so far this year.
Failed firms include Hanson Financial Partners (FRN529347), a Financial Planning firm based in the North East. The firm was based at Boldon Business Park, Boldon Colliery, Tyne and Wear. Hanson said it offered all types of Financial Planning as well as advice on areas such as mortgages and equity release.
Other firms recently declared in default by the FSCS include Donre Advisory Limited (FRN: 513993), based in the City of London and formerly known as Basi & Basi Financial Planning Ltd, and MHMW1 Ltd, formerly M L Robinson Financial Advice Ltd (FRN 575253) which was based in Cwmbran, Gwent, Wales.