The Financial Services Compensation Scheme (FSCS) is the UK’s compensation scheme for customers of financial firms. It may protect you if a firm fails.
This page explains how your cash, investments and pension or insurance advice with Rathbones may be covered.
The assets in your portfolio are kept separate from Rathbones’ own assets and are protected under the FCA’s client money and custody (CASS) rules. These are not covered by FSCS deposit protection.
Cash protection
The cash in your portfolio (held in your capital or income account) is treated as a deposit for FSCS purposes.
This protection sits within the FSCS deposit guarantee (see the next section for how brand and account names affect your single FSCS limit).
If you need a hand working out how this applies to you, please speak to your Rathbones contact.
Cash or deposit protection level: up to £120,000 per eligible person
Joint accounts – each person has their own limit (for example, two eligible account holders could be protected up to £240,000 in total).
Deposit protection
Eligible deposits with Rathbones Investment Management Limited are protected up to £120,000 per person by the FSCS (the UK’s deposit guarantee scheme).
Trading names covered by the same FSCS limit
Your FSCS limit applies to the total of your eligible deposits across these trading names, because they form part of Rathbones Investment Management Limited:
- Rathbones Investment Management
- Greenbank
- Greenbank Investments
- Greenbank Investment Management
- Rathbone Greenbank Investments
- Rathbones Investment Management (Financial Planning)
- Rathbone Investment Management (Advice)
- Rathbones
- Rathbones Financial Planning
- Rathbones Advice
If your total eligible deposits across these names are above £120,000, the excess is unlikely to be covered.
Learn more
FSCS compensation leaflet
Information about the protection of your eligible deposits and what is excluded
Pensions and insurance advice protection
Rathbones Investment Management Limited and Rathbones Asset Management Limited are also covered by the FSCS for investment business and insurance and pensions mediation.
In certain circumstances, in addition to the banking depositor protection, you may be entitled to make a claim to the FSCS in the event of our default if we have provided bad or misleading advice, managed investments negligently, undertaken misrepresentation or committed fraud.
If we advise on pensions or insurance products and we fail, you may be able to claim under the FSCS.
- Insurance advice – 90% of the claim is covered, without an upper limit.
- Pensions advice – up to £85,000 per eligible person.
If we have categorised you as a professional client, you will generally not be eligible for FSCS compensation.
Mortgage (home finance) advice protection
If we advise on or arrange a mortgage (home finance) for you and we fail, you may be able to claim up to £85,000 per eligible person under the FSCS.
More information
For further information about the FSCS, please speak to your Rathbones contact or visit the FSCS website at https://www.fscs.org.uk/