FSCS in-default register

Network Direct Ltd

Declared in default26 November 2021FRN 501761

What this means for you

Because Network Direct 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

Network Direct Ltd (FRN 501761) provided pension advice, pension transfer services, and self-invested personal pension (SIPP) administration to UK customers. The Financial Services Compensation Scheme declared the firm in default on 26 November 2021. Eligible customers with claims relating to pension advice or pension transfer services may be entitled to compensation up to the FSCS limit of £85,000.

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.