Discretionary fund manager (DFM) Brooks Macdonald has offered £3.4m to clients of Spearpoint.
Spearpoint was purchased by Brooks Macdonald in 2012.
The latest results statement from the company showed it has settled 74 per cent of claims from discretionary Spearpoint clients, with the £3.4m offer being made to another tranche of clients.
Separately, the firm's chief executive Caroline Connellan, said she expects the discretionary fund management business to continue to benefit from outsourcing of investment management by advisers as she believes Brooks Macdonald's service offering "responsible" portfolios will win business.
Brooks Macdonald also has a financial advice business, of which she said: "We are very careful to ensure that there are no conflicts of interest between the advisers and the investment managers.
Ms Connellan said: “There has been a lot of consolidation in the space, but our margins have been maintained. We think the responsible investment products we have launched will be a key driver for the future."
She said that while there has been significant consolidation in the industry, she doesn't think it likely this will be a major part of Brooks Macdonald's future.
Ms Connellan said: "I am very clear that I regard organic growth as the key, and as the future. But like any chief executive, if something came up we would look at it. But it is a very very high bar for us to be interested in it."
This article has been corrected to reflect that £3.4m has been offered to the directors of the board of a Dublin-based fund, for which Spearpoint acted as investment manager.