Greyfriars Asset Management LLP was declared in default by the Financial Services Compensation Scheme on 29 April 2020. If you held a SIPP managed by Greyfriars, or if your pension savings were invested in the firm’s Portfolio 6 strategy, this declaration means you may be eligible for FSCS compensation of up to £85,000 per person. The firm is distinct from the Greyfriars Portfolio 6 investment strategy page already available on our website, and the FSCS declaration relates to the management firm itself.
Greyfriars Asset Management LLP (FRN 229285) was an FCA-regulated discretionary fund manager specialising in SIPP-based investment management. Its Portfolio 6 strategy included a range of corporate bonds, alternative investments and property-linked products. Many investors placed their pension money with Greyfriars through financial advisers who recommended the firm’s services.
Serious concerns about Greyfriars began to emerge in 2016, when the FCA issued a Section 166 notice requiring an independent skilled person’s review of the firm. The review focused on several investments within Portfolio 6 that appeared to be linked to one another through shared directors, raising fundamental questions about whether client funds were being managed independently and whether valuations were reliable.
Greyfriars entered administration in October 2018. Smith & Williamson practitioners Adam Stephens and Henry Shinners were appointed as joint administrators. The FSCS received 241 compensation claims before declaring the firm in default in April 2020. The FSCS investigation confirmed that Greyfriars had failed in its due diligence obligations before allowing pension clients to invest in certain non-standard products.
If you had your pension savings managed by Greyfriars Asset Management and have not yet pursued a compensation claim, it is important to speak to specialists. Some of the underlying investments in Portfolio 6 are still being worked through, and independent advice on your specific position may still make a real difference. You trusted a regulated firm with your retirement savings. Where that firm failed in its duties, the right to compensation is yours.
Get Help With Your Claim
If you had dealings with Greyfriars Asset Management LLP and are worried about your money, please book a free consultation with our team. You may feel embarrassed about what has happened, but you should not. You were let down by people who had a professional and legal duty to act in your best interest. We will carry out all the investigative work on your behalf, at no cost to you. If your claim is not successful, you will not pay a penny. Call us during office hours or email hello@claimmyloss.co.uk – we are here for you.
