FSCS in-default register

Paragon Financial Services Ltd

Declared in default13 June 2000FRN 145132

What this means for you

Because Paragon Financial Services 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

Paragon Financial Services Ltd (FRN 145132), a provider of pension advice, pension transfer services, and self-invested personal pension (SIPP) administration, was declared in default by the Financial Services Compensation Scheme on 13 June 2000. Customers who held pension-related products with the firm and suffered losses may be eligible for FSCS compensation of up to £85,000. The firm had no recorded trading names at the time of default.

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.