Fluid ISA Bond 1 Limited

emz1968

My partner invested money in Bonds with this company through Northern Provident.  Northern Provident has gone into liquidation and so we have tried to contact Fluid ISA Limited by telephone and email.  It’s not looking good as we have only received 2 email replies which didn’t address our concerns.
My partner is still hopeful but I’ve got a very bad feeling about this.  Has anyone out there invested in a Fixed Term Fluid ISA Bond and got their money back after the 3 years? 😳

tebbins

Found the following:

https://www.fca.org.uk/news/news-stories/consumer-warning-northern-provident-investments

https://www.fca.org.uk/news/warnings/fluid-isa

The FCA also publish a step by step guide to claiming FSCS compensation for things like this: https://www.fca.org.uk/consumers/claim-compensation-firm-fails

masonic

It doesn't look like this investment would be eligible for FSCS compensation unless Northern Provident happened to be holding the money at the time they failed. The FCA states that it returned all client money just before entering into liquidation.

If the money has been invested into the mini-bond, held within an IF ISA, then nothing changes. The ISA wrapper appears to be provided by Goji Financial Services, who manage IF ISAs for a range of (dare I say reputable) P2P lenders as well as mini-bond providers. Fluid Trust is still operating and while this is a high risk investment with 100% loss potential, these events have not changed the risk profile of the investment.

This is certainly not an investment I'd touch with a barge-pole, but your partner has presumably done the research and is comfortable with the risk.

Here is a review of the investment opportunity, written up by a fellow forumite: https://www.bondreview.co.uk/2019/10/15/we-review-fluid-isas-ifisa-bonds-paying-6-per-year/

Albermarle

My partner invested money in Bonds

One of the issues with investing in Bonds , is that it is an overused word that can mean many different things .

On one extreme can mean a fixed rate savings account that is 100% safe . On the other can mean very risky ( some are often scams in all but name ) unsecured mini bonds promising to pay often unsustainable levels of return .

This would seem to be at the very risky end, but they could be lucky and it turns out OK . 

In future your partner would be better sticking to mainstream investments with long established well known companies.

dancing_al

I have also invested in this bond. After the NPI liquidation announcement I contacted Fluid and received quite a positive response on 12th August. Since then emails and phone calls remain unanswered. Companies House received a confirmation statement on 10th August 2021. Let’s keep in touch and share any updates

dancing_al

Re my post of September 10th. Since the end of September communication with Fluid has returned to its previous high standard. Emails, texts and phone calls have been responded to promptly. My bond matured earlier in October and it has been returned to me. (Due to NPI going into liquidation you may need to register your bank details with Fluid)

emz1968

Just seen your comment! I don’t know why I didn’t get a notification?  But that’s great news! I’ve felt very cynical but this gives me hope 👍

PiquedOff

emz1968 said:

Just seen your comment! I don’t know why I didn’t get a notification?  But that’s great news! I’ve felt very cynical but this gives me hope 👍

Have you had any luck? My wife has a bond with Fluid that was supposed to have matured at the end of November, and while she's had emails and phone calls, and various assurances, the money has not yet appeared in her account. That's despite several verbal assurances that the accounts department would transfer the funds "tomorrow" ...

Albermarle

PiquedOff said:

emz1968 said:

Just seen your comment! I don’t know why I didn’t get a notification?  But that’s great news! I’ve felt very cynical but this gives me hope 👍

Have you had any luck? My wife has a bond with Fluid that was supposed to have matured at the end of November, and while she's had emails and phone calls, and various assurances, the money has not yet appeared in her account. That's despite several verbal assurances that the accounts department would transfer the funds "tomorrow" ...

It is only one day after it matured ......

jimjames

PiquedOff said:

emz1968 said:

Just seen your comment! I don’t know why I didn’t get a notification?  But that’s great news! I’ve felt very cynical but this gives me hope 👍

Have you had any luck? My wife has a bond with Fluid that was supposed to have matured at the end of November, and while she's had emails and phone calls, and various assurances, the money has not yet appeared in her account. That's despite several verbal assurances that the accounts department would transfer the funds "tomorrow" ...

Have the funds arrived yet?

tats4u

Fluid no1bond has any one been paid back their money