The Financial Services Compensation Scheme has received 45 complaints against IFA Clarkson Hill after the failed national went into default in May.
So far, five complaints that have been upheld, adding up to a total of £160,000 with 10 rejected and 30 still in consultation.
The FSCS says it expects to resolve the remaining cases within the next six months but has not ruled out further complaints against the firm.
An FSCS spokeswoman says: “We currently have 30 complaints at various stages in the process and would expect these to be completed in a six month period, but there could be more complaints to come.”
In December last year, Clarkson Hill had its regulatory permissions varied in part due to a failure to show it could pay up to £4.8m in redress to consumers for unsuitable advice.
Merchant House Group launched a new financial planning division after acquiring certain assets from Clarkson Hill Group in December last year shortly after CHG had gone into administration.
The FSCS confirmed in April that claims relating to Clarkson Hill and network Alpha 2 Omega had been priced into the 2011/2012 levy.