The Financial Services Compensation Scheme received 110 claims against Consumer Wealth – a collapsed adviser linked to Greyfriars P6 investment.

The complaints related to Consumer Wealth’s business with DFMs and SIPPs.

Consumer Wealth slumped into liquidation after it received 13 FOS complaints against it.

The FSCS said: “Claims made against Consumer Wealth Ltd relating to discretionary fund managers and SIPP operators have now been moved to our claims processing teams for assessment.”

An FSCS statement read: “Many Consumer Wealth customers seem to have been advised to invest in high risk, non-standard investments, many of which are now illiquid.

“We’re also aware that Consumer Wealth advised some of its customers to switch existing personal pensions to SIPPs.

“Consumer Wealth has also been identified as a distributor of the Greyfriars Asset Management Portfolio Six (P6) investment, which provided investment into non-standard assets.

“We’re currently investigating Greyfriars Asset Management LLP (Greyfrairs), in particular its P6 offering, after the Financial Conduct Authority (FCA) expressed concerns.

“In 2016, FCA instructed Greyfriars to stop accepting any new money into the Greyfriars Asset Management P6 on a permanent basis.

“FSCS is also accepting claims against Greyfriars and we're currently assessing where the responsibility for any customer losses should lie.

“If you received advice from Consumer Wealth and you’d like to make a claim, but are unsure who to make it against, claim against Consumer Wealth.

“If you’ve already made a claim against Consumer Wealth with the Financial Ombudsman Service (FOS) you don’t need to take any action now.

“The FOS will soon be in touch to ask permission to transfer your claim documents to FSCS.”