A Shropshire-based pension adviser - an appointed rep of failed firm Tenet Connect Limited - has itself been declared as failed by the Financial Services Compensation Scheme, opening the door to compensation claims.

The FSCS, the industry consumer safety net, said it had so far received 16 claims against Charterhouse (Chester) Limited trading as 'Charthouse Asset Management' (sic) (191421).

One claim has been upheld so far and this has triggered the default declaration. Another nine claims have been rejected with six others in progress.

The claims are for pension transfer advice and SIPP advice, the FSCS said, but none are BSPS related.

The firm was based in Chester Road, Whitchurch, Shropshire but ceased to be registered as an appointed rep firm after 3 December 2010.

The firm was an appointed rep of Tenet Connect from 2006 to 2010 and before that an appointed rep of Berkeley Independent Advisers Limited.

Tenet Connect Ltd and Tenet Connect Services went into administration themselves in June and are under investigation by the FSCS. Both firms are being handled separately by the FSCS as they were two legal entities.

The FSCS can pay out up to £85,000 per successful claim to clients who have lost money.

In October 10 firms, most of them adviser businesses, were declared as failed or under investigation by the FSCS which has declared over 30 firms as failed or under investigation this year so far.