BFS Independent Financial Advisors
What this means for you
Because BFS Independent Financial Advisors 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
BFS Independent Financial Advisors (FRN 137474) was declared in default by the Financial Services Compensation Scheme on 19 April 2001. The firm's specific product offerings cannot be determined from available records, limiting clarity on the scope of services provided to affected customers. Former customers may be entitled to FSCS compensation depending on the products they held, with typical limits of £85,000 for investments, mortgages, and deposits, or 90% of losses without limit for insurance products.
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.