Bailey Richards Wealth Management Ltd
What this means for you
Because Bailey Richards Wealth Management 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
Bailey Richards Wealth Management Ltd (FRN 583487), a UK-regulated financial-services firm that provided pension advice, pension transfers, and self-invested personal pension (SIPP) administration services, was declared in default by the Financial Services Compensation Scheme (FSCS) on 22 February 2023. The firm's default triggered FSCS protection for eligible customers, who may claim compensation of up to £85,000 for pension-related investments held with the firm. Former customers believing they have valid claims against the firm should contact the FSCS directly to ascertain their eligibility and the status of any compensation.
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.