Context
FSCS has confirmed that Verus Financial Services Ltd (Verus) is ‘under investigation’. Verus has been authorised by the FCA since March 2017, and was an independent financial adviser firm providing investment, pension, mortgage, equity release and insurance advice.
Key points to note and next actions
- Verus had its Permissions varied by the FCA in October 2025, which superseded an earlier VREQ from 2023.
- Verus also had notification requirements (website information), records retention requirements and asset non-disposal requirements imposed on it in October 2025.
- FSCS is now open to customer claims. If customers believe they have a potential compensation claim against Verus, they can apply using the FSCS online claim service.
- FSCS is currently investigating the firm to determine whether claims meet the qualifying conditions for compensation, and this may take some time. FSCS is working closely with the FCA.