The Financial Services Compensation Scheme declared 15 companies in default during November and December 2017, including a Welsh advice firm that had its permissions cancelled in 2016.
Park Grove Financial Management’s permissions were cancelled in June 2016 after it failed to pay more than £5,000 in fees and levies to the regulator.
Another Welsh firm declared in default, Cumulus Investment Management, had 12 Financial Ombudsman Service complaints upheld against it in 2017.
Other advice firms declared in default include Aspen Financial Planning, Knightsbridge Financial Management and M&P Financial Planning.
FSCS communications head Mark Oakes says: “FSCS steps in to protect consumers around the UK when authorised financial services firms go bust. This vital and free service protects your deposits, investments, home finance and insurance. We want anyone who believes they may be owed money as a result of their dealings with any of these firms to get in touch as we may be able to help you.”