Heritage Pensions Limited was declared in default by the FSCS in April 2026. If you held a Heritage SIPP — particularly through an introduction by Tailormade Investments (TMI) — you may be entitled to FSCS compensation. The default was declared only weeks ago. The claim window is now open.
FSCS default declared: April 2026
Heritage Pensions Limited was a SIPP operator that accepted significant volumes of business introduced through Tailormade Investments (TMI), a firm that directed clients into high-risk, non-standard investments. The Financial Ombudsman Service found in multiple upheld decisions that Heritage failed to conduct adequate due diligence on TMI and the underlying investments being placed into client SIPPs.
Despite limiting new introductions from TMI to approximately twenty per month, the FOS found this measure did not lower the risk of consumer detriment. Heritage's regulatory obligations required it to go further — and it did not. Clients were typically told their pension funds were being placed into high-performing, diversified investments. In many cases the underlying assets were illiquid, high-risk, and in some instances near-worthless.
The FSCS declared Heritage in default in April 2026, opening a direct compensation route for eligible claimants. The FSCS is now assessing claims on a case-by-case basis.
The following decisions are a matter of public record held in the FOS decisions database. Summaries are factual and based on published ombudsman findings. Decision references can be verified at financial-ombudsman.org.uk.
The ombudsman found that whilst Heritage did take some steps to conduct due diligence on TMI, it did not do everything it needed to do to meet its regulatory obligations or comply with good industry practice. The complaint was upheld and Heritage was directed to compensate the claimant on the basis that she would not have proceeded had Heritage acted appropriately. The FOS applied Adams v Options SIPP in reaching its findings on Heritage's obligations as SIPP operator.
Heritage was declared in default by the FSCS in April 2026. Claims can now be submitted directly to the FSCS. The FSCS is actively assessing claims relating to Heritage's due diligence failures on Tailormade Investments introductions.
Up to £85,000Where your losses exceed the £85,000 FSCS cap, or where the unregulated introducer chain triggers FSMA s.27 unwinding rights, civil court proceedings may recover the full amount uncapped. Route 4 is outside the standard SRA fee cap under SRA Rule 2.6 (court proceedings exemption).
Uncapped — court proceedingsThe FSCS claim window is now open. Heritage was declared in default in April 2026. This means the FSCS compensation route has just become available. However, time limits apply: the FOS six-year absolute clock and three-year awareness clock both run from the date you knew or ought to have known about your loss. For some claimants, particularly those who received correspondence about their investment in 2022 or 2023, the awareness clock may be approaching expiry. Do not wait. See redressadvisory.com/time-limits for the full limitation framework.
Figures are indicative only and based on typical case profiles. Your actual position depends on your specific circumstances, the transfer value, and the applicable claim route. Not a guarantee of outcome.
You were a Heritage client if your SIPP was operated or administered by Heritage Pensions Limited. You may have been referred to Heritage through Tailormade Investments (TMI) or another introducer. Check your old pension statements — they will show Heritage Pensions Limited as the operator.
The FSCS pays up to £85,000 per eligible claimant per failed firm for investment mis-selling claims. If your loss exceeds this, a Route 4 civil claim may recover the balance uncapped.
No — the April 2026 default declaration opens the FSCS route, it does not close it. You can now submit a claim directly to the FSCS. However, the awareness clock for FOS complaints runs separately and may be ticking for claimants who became aware of their losses earlier.
Tailormade Investments (TMI) was a firm that introduced clients to Heritage for SIPP arrangements. The FOS found Heritage accepted this business without conducting adequate due diligence on TMI. This failure is the legal basis for compensation claims against Heritage under the FCA Principles for Businesses.
Yes. Where your loss exceeds the FSCS cap, the excess may be recoverable through civil court proceedings under Route 4 — particularly where the introducer was unregulated, triggering FSMA s.27 unwinding rights. Your assessment will identify whether this applies to your case.
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