Gaudi Regulated Services Limited entered administration in April 2023 and was declared in default by the FSCS in March 2026. The FSCS is now accepting claims from clients — particularly those who held the GRSL EasySIPP, as well as those introduced via Gaudi's white-label business partner arrangements. If you have a Gaudi SIPP, you may now be able to claim compensation.
Gaudi Regulated Services Limited was a self-invested personal pension (SIPP) operator authorised and regulated by the FCA. Gaudi provided and administered 'white label' SIPPs — products that could be branded and modified for third-party business partners — and worked with a number of discretionary fund managers, several of which subsequently failed.
Gaudi entered administration in April 2023 after a series of FOS complaints were upheld against it in relation to investments it had permitted within its SIPPs. The directors concluded the firm was insolvent following these FOS determinations. Gaudi had previously taken on approximately 4,000 clients from Greyfriars Asset Management when that firm entered administration in 2018.
The FSCS investigation into Gaudi was complex — given the white-label nature of the business, multiple business partners' SIPPs had to be considered individually. In January 2026, the FSCS confirmed it had completed investigations into the GRSL EasySIPP cohort. The full FSCS default was declared in March 2026, opening claims for that cohort. Investigations into other business-partner SIPPs continue.
The correct route depends on whether the firm is still active, the nature of your loss, and whether FSCS compensation has already been paid on related adviser claims.
Gaudi itself is in administration. If an FCA-regulated IFA recommended your Gaudi SIPP and is still trading, a direct DISP complaint against that adviser remains the appropriate first step.
Against live adviser firstMultiple FOS decisions against Gaudi were upheld and contributed to its insolvency. If your adviser complaint remains live and the firm rejects it, escalate to FOS. FOS also has jurisdiction over Gaudi's own conduct as operator.
FOS escalation routeThe FSCS declared Gaudi in default in March 2026 and is now accepting claims — initially for EasySIPP clients. Claims involving other Gaudi business-partner SIPPs are subject to ongoing investigation. FSCS typically expects adviser claims to be made first where an FCA-regulated IFA was involved.
FSCS now open — EasySIPP firstWhere losses exceed the £85,000 FSCS cap and solvent parties exist in the advice or business-partner chain, civil litigation can pursue uncapped recovery. The white-label structure means multiple potential defendants may exist.
Uncapped where cap insufficientGaudi's white-label SIPP model — under which business partners could rebrand and distribute Gaudi SIPP products — creates a multi-party liability chain. The legal framework established by Fletcher [2024] EWCA Civ 541 applies equally to Gaudi: as the licensed SIPP operator, Gaudi bore responsibility for the investments it permitted within its products and the due diligence applied to business partners who distributed those products.
The FOS determined that Gaudi had failed in its obligations to clients in relation to investments admitted to its SIPPs. These upheld determinations were financial liabilities that the directors recognised as making the firm insolvent — directly demonstrating the regulatory basis for operator liability confirmed in Fletcher and Berkeley Burke.
The FSCS's phased investigation — dealing separately with direct EasySIPP clients and each business-partner cohort — reflects the complexity of the liability chain but does not diminish the underlying claims available to affected investors.
SIPP operator claims are subject to the same DISP and Limitation Act deadlines as adviser claims. FSCS claims must also meet prescribed eligibility windows.
FSCS claims against Gaudi are now open (March 2026) but subject to FSCS eligibility rules and standard limitation periods. EasySIPP claims are being processed first; business-partner SIPP cohorts are under ongoing investigation. Do not delay — see redressadvisory.com/time-limits.
Redress Advisory assesses your position across all four routes and connects you with an SRA-regulated solicitor at no upfront cost.
Begin Your AssessmentYou do not need to use a claims management company to pursue a pension mis-selling complaint. You can complain directly to the financial firm, escalate to the Financial Ombudsman Service (FOS), apply to the Financial Services Compensation Scheme (FSCS), or instruct a solicitor independently — all free of charge. Using Redress Advisory does not improve the likelihood of success compared to pursuing a claim yourself, and our fee will reduce any compensation you receive.
Redress Advisory Ltd (Company No. 17295681) is a claims management company. Regulated legal work is carried out by our Operating SRA Partner solicitor firms. We are not a firm of solicitors and we do not provide legal advice.
The information on this page is for general informational purposes only. It does not constitute financial, legal, or claims management advice. Individual outcomes depend on the specific facts of each case. Historical outcomes in related cases are not a guarantee of results in your case.
FOS: 0800 023 4567 | FSCS: 0800 678 1100 | FCA Register: register.fca.org.uk