FSCS in-default register

Optimus Wealth Management Ltd

Declared in default17 December 2020FRN 432564

What this means for you

Because Optimus 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

Optimus Wealth Management Ltd, which operated under the trading names Howard & Co (Mortgages) Ltd and Panayi Ltd (FRN: 432564), provided pensions, insurance, and investment services to UK customers. The Financial Services Compensation Scheme declared the firm in default on 17 December 2020. Former customers holding investments are entitled to compensation up to £85,000, while those with insurance policies may recover up to 90% of their claim with no upper limit.

Products this firm wrote

Pensions, Insurance, Investments

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.