An advice firm is among those declared in default by the Financial Services Compensation Scheme (FSCS).
Chadkirk Wealth Management, based in Staffordshire, was among those declared in default during August.
This means the FSCS is satisfied the firm is unable to pay claims for compensation made against it and it paves the way for clients of that firm to make a claim for compensation.
It also means the firm has received at least one eligible claim so far.
Among the other firms declared in default was London-based Cain Lambert Limited, Bristol-based MML Administration Limited and Derbyshire-based The Man for Mortgages Limited.
The other firms declared in default were Liverpool-based Clearcredit Limited and Leicestershire-based Abbot Insurance Brokers.
Alex Kuczynski, chief corporate affairs officer at the FSCS, said: "FSCS steps in to protect consumers around the UK when authorised financial services firms go bust.
"This vital service, which is free to consumers, protects your deposits, investments, home finance and insurance."
Since it began in 2001, the FSCS has helped more than 4.5m people, paying out more than £26bn in compensation.
damian.fantato@ft.com
