June 25th, 2021 | Latest News

Greyfriars - FSCS Compensation Payouts

The FSCS, a Government-backed body set up to protect customers from failed investment companies, declared Greyfriars Asset Management in default in April 2020 after receiving eligible claims relating to SIPPs.

Greyfriars offered a range of portfolios to investors and one in particular, known as Portfolio 6 (P6) and highlighted in a previous TLW blog, included high-risk, non-standard funds, some of which have since become illiquid, causing their customers to lose out.

FSCS Compensation Payouts

The FSCS compensates those who have lost out when a financial firm fails. This means that Greyfriars Asset Management’s customers can make a claim. Investors who were encouraged to invest in Greyfriars Asset Management by Independent Financial Advisers (IFAs) can also make a claim.

Industry publication, FT Adviser recently reported that almost 500 FSCS claims have been made so far and many more are expected. Payments of £3.75 million have already been paid by the FSCS to 88 investors.

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Sarah Spruce

Partner at TLW Solicitors

Get in touch

TLW Solicitors has a dedicated SIPP and Pensions mis-selling claims team. With specialists in claiming compensation for those who have been mis-sold pension investments, TLW Solicitors can help on a no win – no fee basis.

Our clients are reassured by our knowledge and experience of FSCS procedures. We have had FSCS claims successfully upheld for clients whose claims had previously been refused on purely technical grounds. Were you or a loved one advised to invest in a Greyfriars Asset Management SIPP and have lost out? If so, please get in touch with TLW Solicitors today.

TLW Solicitors can help

It is important to get advice as soon as possible as strict time limits can apply.

You can call us on 0191 293 1500, email us at info@tlwsolicitors.co.uk or click the button below to make an enquiry.

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