David Aaron

23rd February 2004

This is the current position

The Financial Services Compensation Scheme (FSCS) has declared the David Aaron Partnership and David M Aaron (Personal Financial Planners) Limited in default. This means that FSCS is satisfied that these firms are unable (or likely to be unable) to pay claims against them. Both of these firms, at different times, traded as "The David Aaron Partnership". A declaration of default opens the way for consumers to claim compensation from FSCS.

What to do if you have a claim

  • FSCS has sent out application packs to all known claimants. This includes a claim application form, our booklet on claiming compensation.
     
  • If you believe you have a claim for compensation, but have not received an application pack, please contact us. To make a claim for compensation, you will need to fill in our application form and send it to us.
     
  • If you have already provided a detailed explanation of your complaint to the Financial Ombudsman Service (FOS) this information will have been passed to FSCS. However, you will still need to fill in an application form to claim compensation from FSCS, which will have been sent to you.
     

If you have not already done so, you should also contact KPMG, the liquidator of the limited company, to notify them that you may have a claim against this firm. They can be contacted at:

  • 8 Salisbury Square, London EC4Y 8BB.

How long will claims take to process?

We have set up a dedicated team to handle these claims and we are dealing with all claims as quickly as we can. However, we have received approximately 2,000 claims relating to The David Aaron Partnership, which will take some time to complete, and we must ask you to be patient.

Whilst we intend to complete all claims within nine months, those claims that are at the back of the queue may take longer (although we hope not significantly longer than this). Claims are being processed in order of receipt unless a claimant is facing particular hardship. For bond claims, we cannot process your claim until the investment has matured.

Any questions?

If you have any questions, please contact us. However, if you have already lodged your claim, please be patient. We will acknowledge receipt of your completed application form and will be in touch about your claim as soon as we can.

Jargon Buster

  • FOS

    Financial Ombudsman Service, for complaints or claims against firms that are still trading.
  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.
  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).