The Financial Services Compensation Scheme has declared the David Aaron Partnership and David M Aaron (Personal Financial Planners) Limited in default, paving the way for consumers to receive compensation from the Scheme.
Both of these firms traded, at different times, as The David Aaron Partnership.
FSCS has written to claimants of The David Aaron Partnership to explain to them how to make a claim for compensation.
FSCS spokeswoman Loretta Minghella says: “Because of the large number of potential claims against these firms, the processing will take some time to complete. However, this announcement should come as a relief to those who, without FSCS, would be left with nowhere to turn. Our message to investors is that, whilst there is still some way to go, we are making progress.”