The Financial Services Compensation Scheme (FSCS) has declared a further 14 advisory businesses in default.
The FSCS declares firms in default when is satisfied the firm is unable to pay
claims for compensation made against it.
It has already started to compensate consumers and is said to have received claims worth £500,000 against the 20 firms so far.
FSCS head of communications Mark Oakes said:"We have already started paying compensation in respect of these firms. However, we are encouraging anyone who has not been contacted by us and believes they may be owed money as a result of their dealings with any one of these firms to get in touch with FSCS."
The defaulted investment, life or pensions advisers are:
CH Financial Advice
Sutcliffe Mitchell (Life and Pensions)
Swinburne James FS
Bervale Mead Financial Services
David Zerfahs & Associates
Forest Financial Services Limited
Portia Financial Services
Howarth's Independent Financial Consultants
Robertson Financial Services
Marks Jacobson Financial Services
Number 1 Finance
J. E Leggett Financial Services
GMBC Financial Services
The FSCS also recently declared 13 firms in default.
The scheme compensates up to £50,000 per person per firm for investments and home finance.
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