The Financial Services Compensation Scheme (FSCS) is facing claims worth around £2.55m for 12 investment and life & pensions firms newly declared in default - which would need to be paid for by investment adviser levypayers.
The firms, which consists of seven investment intermediaries and five life and pension advisers, racked up a total of 102 claims. Among them was Merchant Capital, the structured products arm of Merchant...
'People miscalculate how much they need'
Information request by AJ Bell
Could lose 97% of investment
'Document your conversations'