The Financial Services Compensation has declared an East Midlands financial adviser with several trading names as failed, opening the door to clients claiming compensation.

The FSCS said there were currently seven claims against the firm, Hallmark (East Midlands) Ltd. They are a mixture of pension claims but not BSPS related, the FSCS said.

Hallmark (FRN 403377) also traded as Hallmark Mortgages & Overseas Properties and Abbot Insurance Broker. It was listed at an address in Ilkeston, Derbyshire.

According to the FCA register, during its lifetime the firm had 22 staff connected to the business, including six listed as investment adviser trainees.

The CF3 chief executive was Gary Hamson who was also connected to a number of other firms including St James’s Place Wealth management from 2011 to 2018. Other firms he had links with included Ryley Wealth Management Ltd as an appointed representative.

The failure of Hallmark comes after a string of similar failures of pension firms, many connected to SIPP and pension transfer advice.

Last week the FSCS declared two pension advice firms in default. One mostly advised on SIPPS while the other advised on pension transfers.

The TJM Partnership (FRN 498199) and Everyday Financial Advice (FRN 595535) - trading as Tudor Court Financial Planning - both defaulted on 7 October.

Many of the claims against Hallmark are likely related to advice give some years ago as the firm ceased to be authorised after May 2011. Hallmark was first registered with the FCA in 2004.