FSCS in-default register

Retirement Direct Ltd

Declared in default20 October 2023FRN 183942

What this means for you

Because Retirement Direct 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

Retirement Direct Ltd, which operated under the trading name Read Independent Financial Advisers Ltd (FRN: 183942), was declared in default by the Financial Services Compensation Scheme on 20 October 2023. The firm provided pension advice, pension transfer services, and self-invested personal pension (SIPP) administration to its clients. Former customers may be entitled to FSCS compensation of up to £85,000 in relation to pension-related investments held through 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.