So far this financial year the Financial Services Compensation Scheme has declared 40 firms in default, opening the door to ex-clients to submit claims for millions of pounds of compensation.

Cheshire-based adviser firm Holborn Assets Ltd (FRN 648817) has been declared in default by the FSCS, opening the door to ex-clients to submit claims for compensation.

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. 

Staffordshire-based advice firm Norrix Financial Services Ltd (FRN: 224577) has been declared as in default by the Financial Services Compensation Scheme (FSCS).

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

Scottish Financial Planning partnership Advice & Wealth Management Solutions LLP has been declared in default by the Financial Services Compensation Scheme (FSCS).

The Financial Services Compensation Scheme has declared BSPS-linked adviser firm Mark Peter Houlbrook (FRN: 498168) in default over pension transfer advice, opening the door to compensation for ex-clients with valid claims.