The Financial Services Compensation Scheme has declared Premier Wealth Management Harrogate Ltd in default following two claims filed against it over pension transfer advice.
The Birmingham-based firm, Premier Wealth Management Harrogate Ltd, was dissolved back in March 2021.
Neither of the claims against the firm are related to the British Steel Pension Scheme scandal, an FSCS spokesperson told FTAdviser.
In its last full accounts, Premier Wealth Management Harrogate reported a profit of £312,481 for the 10 months to November 2018.
But in 2019, the accounts say the firm ceased trading. Having employed eight people in 2018, by 2019 it had no employees.
According to Companies House filings, it was owned by AFH Financial Group, who bought the firm in November 2018.
Back in June, another firm owned by AFH went into liquidation. Protection advice firm Eunisure folded after recording a £2mn loss last year.
At the time, the Financial Ombudsman Service said it had fewer than 10 open cases against the firm and had resolved fewer than 10 cases against it this calendar year.
The FSCS has declared five other advice firms in default over the past month.
Most recently, FSC Investment Services Limited and Craig Mitchell Personal and Corporate Financial Planning both failed, facing a collective 22 claims.
In November, Antonor LLP, formerly Priory Impartial Solutions LLP which traded as Ridgeway Consultants failed after one claim was held up against it for advice on investing into a self-invested personal pension.
EQ Financial Planning Limited also defaulted last month with a single valid claim against it related to pension advice, while Bartholomew Financial Limited in default failed after claims were failed over its pension transfer advice - some of which relate to the BSPS scandal.
ruby.hinchliffe@ft.com
