The Financial Services Compensation Scheme (FSCS) has declared Birmingham-based BlueSky Wealth Management Ltd in default.
According to the Financial Conduct Authority (FCA) register the firm has been in liquidation since April 2023.
Since October 2020 it has been unable to dispose of, deal with or diminish the value of any of its assets as well as cease pension transfer advice.
The FSCS told International Adviser that it has received eight claims so far that are pensions advice related.
With one being upheld and the rest still in progress.
To read more on this topic, visit: Holborn Assets under investigation by FSCS
It also told IA that it was aware the firm was associated with BSPS and it expects a number of claims to be related to the scheme.
However, until each claim is fully reviewed it cannot specifically say currently what they are related to.
The firm has also previously had the name BlueSky Agency Limited.
