Greyfriars Asset Management – FSCS Compensation Payouts
The Financial Services Compensation Scheme (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 Self-Invested Personal Pensions (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.
SIPP Pension Mis-selling Claims Specialists
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.
Can I Claim SIPP Compensation?
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 by calling 0800 169 5925, email email@example.com or complete the call back form below to see if you are owed compensation.
Time limits apply, so anyone wishing to bring a claim should do so without delay.
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