Prism Independent Financial Advisers Ltd
What this means for you
Because Prism Independent Financial Advisers 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
Prism Independent Financial Advisers Ltd (FRN 515431), a firm offering pension advice, pension transfer services, and Self-Invested Personal Pension (SIPP) administration, was declared in default by the Financial Services Compensation Scheme on 11 July 2023. The firm's default triggers FSCS protection for eligible customers holding pension-related investments, who may claim compensation up to £85,000 per claim. Affected customers should contact the FSCS directly to establish their eligibility and submit claims.
Products this firm wrote
How to claim
- Check you were a customer of this firm during the period it was regulated.
- Gather your policy / advice / contract paperwork — start with anything you have in writing.
- Identify your loss and the date it crystallised.
- Apply via the FSCS online claim portal at claims.fscs.org.uk.
- The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.