FSCS in-default register

Sovereign Wealth Advisory Ltd

Declared in default7 May 2021FRN 603333

What this means for you

Because Sovereign Wealth Advisory 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

Sovereign Wealth Advisory Ltd (FRN 603333), a UK-regulated firm offering pension advice, pension transfer services, and SIPP administration, was declared in default by the Financial Services Compensation Scheme on 7 May 2021. The firm provided guidance and administrative services related to self-invested personal pensions and pension transfers. Eligible customers who suffered losses may claim compensation up to £85,000 under FSCS protection rules for investment business.

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.