The Financial Services Compensation Scheme (FSCS) is the last resort when your attempts to recover monies have failed.
First try and complain to the company who held your money or advised you on the investment.
If they do not deal with your complaint in time (8 weeks) or reject it take your complaint to the Financial Ombudsman Service. They have an online claim form. You will need evidence of your investment or deposit and may need to prove the advice you received was misleading or inappropriate.
If the company who held your money or gave you misleading advice has dissolved and provided it was registered with and authorised by the Financial Conduct Authority you can make a claim from the FSCS. You can check the FCA register here.
The form can be completed online here.
The FSCS protects deposits up to £85,000 for each institution (be careful as some companies have multiple trading arms and the limit applies to the whole company not each arm).
Investments such as pension investments, shares, etc have a lower limit of £50,000 so even if you have lost £100,000 you maximum recovery from the FSCS will be £50,000.
We provide legal assistance and can submit your complaints to the finance company itself, the Financial Ombudsman Service if that complaint is rejected or ignored and the FSCS. Our rates are competitive and we can offer fixed fees.
Call Nick for more information on 01925 759 510.