The Financial Services Compensation Scheme (FSCS) announced that Scotland-based firm MLM Wealth Management Ltd has failed.
According to the Financial Conduct Authority (FCA), the wealth manager has not been authorised since September 2019.
Companies House also shows that the firm was dissolved in May 2022 via voluntary strike-off.
The FSCS told International Adviser that it had received two claims against the firm for pension transfer advice.
Both claims are still in progress and are related to the British Steel Pension Scheme (BSPS).