FSCS in-default register

Phoenix Financial Associates Ltd

Declared in default2 January 2020FRN 458390

What this means for you

Because Phoenix Financial Associates Ltd has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.

Background

Phoenix Financial Associates Ltd (FRN 458390) provided investment advice and access to unregulated collective investments before being declared in default by the FSCS on 2 January 2020. The firm's failure means eligible customers may claim compensation under the FSCS scheme, with a limit of £85,000 per person for investment business claims. However, compensation eligibility depends on individual circumstances and the nature of investments held with the firm.

Products this firm wrote

Investment adviceUnregulated Collective Investment Schemes (UCIS)

How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.