The Financial Services Compensation Scheme (FSCS) announced that Buckinghamshire-based financial advice firm Mike Norris Financial Services failed on 22 September 2023.
The firm has been authorised by the Financial Conduct Authority (FCA) since 2011. But the firm applied to cancel its licence as well as its sub status.
According to Companies House, the firm started the liquidation process in August 2022.
The UK lifeboat scheme told International Adviser that there has been six claims made against the company all relating to unsuitable pension advice.
Just one claim has been upheld, two have been rejected and three are currently open.
The FSCS said the firm has no connection to the British Steel Pension Scheme (BSPS).