FSCS in-default register

J Monroe Ltd, trading as Compendium Wealth, Summit Wealth Management

Declared in default4 July 2024FRN 791232

What this means for you

Because J Monroe Ltd, trading as Compendium Wealth, Summit Wealth Management 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

J Monroe Ltd, which traded as Compendium Wealth and Summit Wealth Management (FRN 791232), was a UK regulated firm specialising in pension advice, pension transfers, and self-invested personal pension (SIPP) administration. The Financial Services Compensation Scheme declared the firm in default on 4 July 2024. Eligible customers may be entitled to compensation of up to £85,000 in relation to pension-related investments held with the firm.

Products this firm wrote

Pension advicePension transferSIPP administration

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.