Northern Provident Investments Ltd

In liquidation 20 August 2021

FRN: 647948

Northern Provident Investments Limited (NPI) proposes to enter into liquidation on 20 August 2021.

From 27 July 2015, NPI was authorised by the Financial Conduct Authority (FCA) and operated a debt-based crowdfunding platform where customers could buy illiquid debt securities and shares. NPI typically acted as an ISA manager for the investments on offer, many of which were mini-bonds.

Investments in mini-bonds commonly offer customers high returns, but are both high risk and highly illiquid. Customers may find it difficult to sell their investments if they need to access the money they invested.

NPI did not hold customers’ investments themselves. Despite the failure of NPI, customers will, therefore, continue to hold their investments, either directly or within an ISA wrapper.

FSCS is aware that certain investments have failed. We’re also aware that some customers paid money to NPI to invest on their behalf and that money has not yet been invested. Find out more on the FCA's website.

FSCS is in the early stages of investigating whether there are any claims against NPI that meet the qualifying conditions for compensation. As part of this investigation, we will work closely with the Joint Liquidators once they are appointed.

We will provide updates on the progress of our investigation on this page, so please sign up for email updates below if you would like to receive these.

Be aware of scams and fraud

Please be alert to the possibility of fraud. Scammers may try and take advantage of NPI’s liquidation with the aim of defrauding customers. If you are cold-called by someone saying they are from NPI, please end the call and contact NPI or the proposed Joint Liquidators. Further information can also be found on the FCA’s scams page.

  • 01 Apr, 2022

    We’ve completed our review of the firm’s records and we're continuing to liaise with third parties as part of the investigations.

    We’re also reviewing a sample of the investments NPI was involved with.

    This will help us determine whether the firm carried out a regulated activity in relation to the investments. If it did, it might lead to valid claims.

  • 07 Feb, 2022

    Our investigation into NPI is ongoing. Since our last update, we've been liaising with the joint liquidators to get the relevant records from NPI to help with our investigation. We hope to complete our review of those records over the next month or so.

    We will then determine whether NPI was engaged in any regulated activity regarding the investments it was involved with. If it was, we'll determine whether FSCS protects any of those investments.

    If that is the case, we will also need to determine whether NPI owes a civil liability to any customers that would enable them to sue the firm in court.

  • 24 Aug, 2021

    On 20 August 2021, NPI entered creditors’ voluntary liquidation. Jason Baker and Geoff Rowley of FRP Advisory Trading Limited (FRP) were appointed as joint liquidators. 

  • 06 Aug, 2021

    FSCS is not currently accepting claims against NPI. 

    Firstly, we need to establish whether there are valid claims against the firm. For this to happen we need to know that NPI carried out a regulated activity in relation to customers’ investments that would lead to claims that FSCS may be able to protect.


Contact us by phone on the number below, or via the contact form on the Contact us page.