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Northern Provident Investments Ltd

Failed 24/02/2023

FRN: 647948

Northern Provident Investments Limited declared in default

Northern Provident Investments Limited (NPI) was declared in default by the FSCS in February 2023.

It was formerly known as Money Labs Ltd and ISA Lab.

NPI operated a debt-based crowdfunding platform in which customers could buy illiquid debt securities and shares. It typically acted as an ISA manager for the investments, many of which were mini bonds.

Northern Provident Investments Limited was authorised by the FCA from July 2015 but applied to cancel its FCA permissions in December 2022.

In August 2021, the director of NPI decided to wind up the firm.

Northern Provident Investments and Blackmore Bond

Northern Provident Investments had previously approved financial promotions for some of Blackmore’s mini-bonds.

In February 2023 the FSCS announced which claims it would and would not consider in relation to NPI and Blackmore.

Claims against NPI

According to reports there’s been 194 claims made against NPI relating to various investments and so far one claim has been upheld.

As Northern Provident Investments(NPI) has been declared in default, claims will be processed by the Financial Service Compensation Scheme.

 

Making a claim yourself

You can make a claim yourself for free, with the Financial Services Compensation Scheme.

Here’s some useful links…

Financial Services Compensation Scheme
FSCS Making a claim
FSCS Contact Us

Money Helper
How to spot a pension scam

Money & Pensions Service
How MaPS can help those who have been scammed on their pensions

Using our service to help you make a claim

If you are looking for a service to handle your claim…We are one of the UK’s leading Claims companies, specialising in mis-sold pension and investment compensation claims.

Our outstanding claims service includes full investigations and complete management of the claim on your behalf.

Our success fee is calculated at 15%+VAT (total 18%) of the gross amount of compensation offered to you and our success fee is capped at £7,500 + VAT.

Arrange a free initial assessment with one of our friendly experts, who can tell you if we think you have a case. And explain what your options are if you do.

It’s completely confidential and there’s absolutely no obligation to use our service.

Simply fill in the form below or call our office.

Key Facts

1
The FSCS declared Northern Provident Investments Limited (NPI) in default in February 2023.
2
It had previously approved financial promotions for some of Blackmore’s mini-bonds.

We win more than 9 out of 10 claims

The cost of our service is 15% + VAT on the total monies awarded for a successful claim. Our cost is also priced capped at one of the lowest rates.

Important Information!

You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.