The fall out from the failed investment fund range Arch cru, which has left advisers with a £32million compensation bill, is continuing as about 900 investors take legal action.
Investors suing for compensation over Arch Cru are writing to up to 40 wraps and platforms asking them to pass on details of their action to all clients who were also invested in the failed funds.
Solicitors Harcus Sinclair has launched a case on behalf of 900 claimants against Arch Cru authorised corporate director Capita Financial Managers Limited.
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Any investor who has not accepted a compensation offer made by Capita can join the legal action.
It is estimated that there are as many as another 2,000 investors with £30 million in Arch Cru between them who have not yet signed up to the action.
The Capita offer of 14p in the pound closed on December 31 last year and investors who have not accepted it have until the end of March to join the litigation against them. Arch Cru Litigation Committee chairman John Hawkes said: "There are many investors in Arch cru out there who have no idea that this litigation is an option for them. There may even be investors who do not know that they are actually invested in these funds.
"Others investors may have been contacted but not fully understood the choices on offer at the time."
In January the FCA said consumers who invested in the CF Arch Cru Investment and Diversified funds because of unsuitable advice have so far received over £8.26m from advisers in compensation.
This will eventually reach £31.47m.