Worcester-based firm Houghton Edwards has failed with the Financial Services Compensation Scheme.
The FSCS said it has received six claims against the firm and all of the claims are for investment advice.
A spokesperson at the lifeboat scheme confirmed that one claim has been upheld, allowing the FSCS to declare the firm in default.
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It comes as last week, a Gloucestershire-based firm was also declared as failed by the FSCS.
It declared IFS Aegis Limited, formerly Authorised Financial Advisors, in default after the first claim against the firm was upheld.
sonia.rach@ft.com
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