INTELLIGENT MONEY
Why You Can Claim Compensation or Redress Against Intelligent Money Ltd
The Financial Services Compensation Scheme (FSCS) declared Intelligent Money Ltd (FRN: 219473) as failed on 28 May 2024, following the company entering administration. This means former clients may be eligible to make a compensation claim.
Regulatory Action
In May 2024, Intelligent Money Ltd entered administration following an upheld decision by the Financial Ombudsman Service (FOS) in connection with its handling of pension-related investments. The company was no longer in a position to meet its financial liabilities, prompting the directors to appoint joint administrators from Interpath Advisory.
Background
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Incorporated: 19 March 2002 (originally as Pensionwise Limited)
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Name changed to: Intelligent Money Ltd on 16 January 2004
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FCA Authorisation Date: 31 January 2003
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Company Number: 04398291
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FRN: 219473
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Location: Nottingham, England
Intelligent Money operated as a SIPP provider and investment management firm. It offered products including Self-Invested Personal Pensions (SIPPs), ISAs and general investment accounts. The business was well known for providing pension wrappers, often in partnership with financial advisers.
However, concerns were raised over its acceptance and administration of certain investments held within SIPPs, leading to client losses and ultimately the FOS decision that triggered insolvency proceedings.
Who Was Involved?
The following individuals were currently or previously approved to perform regulated functions at Intelligent Money Ltd:
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Julian Penniston-Hill – CEO and founder
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Paul John Slane
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David John Torkington
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John David Allan
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Nicholas James Lodge
Appointed Representatives and Agents
No publicly listed appointed representatives or electronic money/payment service agents are currently known for Intelligent Money Ltd.
If you’ve invested in an Intelligent Money SIPP and suffered financial losses, you might be eligible for pension mis-selling compensation. Recent news highlights potential issues with unsuitable advice, high-risk investments, and management practices linked to Intelligent Money SIPPs.
Recent Developments
- FCA Asset Restriction: In February 2024, the Financial Conduct Authority (FCA) imposed an asset restriction on Intelligent Money. This prevents them from disposing of client assets without consent, potentially ensuring funds are available for redress.
- Financial Ombudsman Service (FOS) Cases: The FOS is currently handling over 80 complaints against Intelligent Money, highlighting potential failures in due diligence and compliance with regulations. One notable case resulted in a compensation award of up to £160,000 for the client’s investment losses.
Next Steps
- Free Consultation: Contact our legal experts for a free consultation to discuss your situation and potential eligibility for compensation.
- Case Assessment: We’ll review your SIPP details and investment history to determine if you have grounds for a claim.
- Claim Process: If eligible, we’ll guide you through the claims process on a no-win, no-fee basis, minimizing your financial risk.
Get Started Today
Don’t suffer in silence. Call us on 0161 840 1560 or request a callback through our website to begin your claim. By taking action, you might be able to recover your losses.
Company background (public record)
The company was incorporated at Companies House on 19 March 2002 under company number 04398291. Its status at Companies House is recorded as liquidation.
Registered office: C/O Interpath Advisory, 10 Fleet Place, London, EC4M 7RB.
Previously named: PENSIONWISE LIMITED.
Nature of business (SIC): 82990, 96090.
Company timeline (public record)
Key dated events for this firm, drawn from public records. Each entry shows its source.
| Date | Event | Source |
|---|---|---|
| 19 Mar 2002 | Company incorporated | Companies House |
| 19 Mar 2002 | Julian Jeffrey Penniston-hill appointed director | Companies House |
| 19 Mar 2002 | Anup Kumar Sharma appointed secretary | Companies House |
| 19 Mar 2002 | Qa Registrars Limited appointed corporate-nominee-secretary | Companies House |
| 19 Mar 2002 | Qa Registrars Limited resigned as corporate-nominee-secretary | Companies House |
| 19 Mar 2002 | John Sanders Owen appointed director | Companies House |
| 19 Mar 2002 | Qa Nominees Limited appointed corporate-nominee-director | Companies House |
| 19 Mar 2002 | Qa Nominees Limited resigned as corporate-nominee-director | Companies House |
| 06 Aug 2003 | FCA status recorded as: Authorised | FCA Register |
| 09 Dec 2019 | Alex White approved by the FCA at the firm | FCA Register |
| 19 Mar 2020 | Marcus Colin Waldram resigned as director | Companies House |
| 19 Mar 2021 | Alexander White appointed director | Companies House |
| 02 Aug 2022 | Alexander White resigned as director | Companies House |
| 12 Aug 2022 | Nicholas Howard Burrows appointed director | Companies House |
| 01 Sep 2023 | Ian David Stewart resigned as director | Companies House |
| 27 Nov 2023 | Nicholas Howard Burrows resigned as director | Companies House |
| 28 May 2024 | Company entered administration (in administration) | Companies House |
| 17 Sep 2024 | FSCS update: In May 2024, the FSCS started to accept customers’ claims against Intelligent Money Ltd(IML) | FSCS |
| 31 Oct 2024 | Company administration ended (in administration) | Companies House |
| 31 Oct 2024 | Company wound up (creditors’ voluntary liquidation) | Companies House |
| 31 Oct 2024 | Insolvency practitioner appointed: Richard Heis | Companies House |
| 31 Oct 2024 | Insolvency practitioner appointed: Kristina Kicks | Companies House |
| 28 Nov 2024 | Declared in default by the FSCS | FSCS |
| 28 Nov 2024 | FSCS update: On 28 May 2024, Intelligent Money Limited (‘Intelligent Money’) entered administration and FSCS started to consider cust… | FSCS |
| 19 Mar 2025 | FSCS update: Further to our update in November where we declared Intelligent Money Limited (IML) in default, we have now finalised th… | FSCS |
| 13 May 2025 | FSCS update: Further to our update in March, for customers who held Greyfriars P6 portfolios, their claims have now been moved to our… | FSCS |
| 29 Aug 2025 | FSCS update: We can confirm that we've completed our investigation into the firm and that we're currently finalising the claims proce… | FSCS |
| 13 Oct 2025 | FSCS update: We have now finalised the investigation and claims process regarding Intelligent Money Ltd | FSCS |
Focused on the firm’s early history and the events leading up to and following its failure. 34 routine entries from its active years are omitted.
Who was involved?
The following individuals are listed on public records in connection with the firm. These are matters of public record only and their inclusion does not imply any wrongdoing by any named person.
- Chris Sutton. Listed on the FCA Register as having held SMF9 Chair of the Governing Body (from 23/07/2020), SMF3 Executive Director (from 09/12/2019), CF1 Director (08/09/2009 to 08/12/2019), [FCA CF] Material risk taker (09/12/2019 to 13/02/2023) at the firm.
- Marcus Colin Waldram. Listed on the FCA Register as having held CF1 Director (23/02/2009 to 08/12/2019), SMF3 Executive Director (09/12/2019 to 19/03/2020) at the firm.
- Julian Penniston-Hill. Listed on the FCA Register as having held CF1 Director (AR) (19/09/2007 to 01/06/2009), CF3 Chief Executive (06/08/2003 to 08/12/2019), CF1 Director (06/08/2003 to 08/12/2019), Responsible for Insurance Mediation (14/01/2005 to 10/07/2013) at the firm.
- Chris Sutton. Listed on the FCA Register as having held SMF9 Chair of the Governing Body (from 23/07/2020), SMF3 Executive Director (from 09/12/2019), CF1 Director (08/09/2009 to 08/12/2019), [FCA CF] Material risk taker (09/12/2019 to 13/02/2023) at the firm.
- Ian Stewart. Listed on the FCA Register as having held SMF3 Executive Director (09/12/2019 to 04/09/2023), CF11 Money Laundering Reporting (01/11/2015 to 08/12/2019), CF10a CASS Oversight function (18/07/2016 to 08/12/2019), CF10 Compliance Oversight (01/11/2015 to 08/12/2019) at the firm.
- Jeff Penniston. Listed on the FCA Register as having held CF1 Director (23/01/2009 to 08/12/2019), [FCA CF] Material risk taker (09/12/2019 to 13/02/2023), SMF3 Executive Director (09/12/2019 to 28/05/2024) at the firm.
- Darrell Roughton. Listed on the FCA Register as having held [FCA CF] Material risk taker (09/12/2019 to 13/02/2023) at the firm.
- James Shea. Listed on the FCA Register as having held [FCA CF] Material risk taker (09/12/2019 to 13/02/2023) at the firm.
- Pavan Varma. Listed on the FCA Register as having held [FCA CF] Material risk taker (09/12/2019 to 13/02/2023) at the firm.
- Nik Burrows. Listed on the FCA Register as having held [FCA CF] Material risk taker (09/12/2019 to 13/02/2023), SMF3 Executive Director (12/08/2022 to 29/02/2024) at the firm.
Appointed Representatives and Agents
While it was authorised, the firm acted as principal for the following appointed representatives. An appointed representative carries on regulated business under the responsibility of its principal, so their conduct can be relevant to a claim.
| Appointed representative | Reference | Effective from | Ended |
|---|---|---|---|
| Penniston Hill Private Clients Ltd | FRN 472661 | 12/09/2007 | 01/06/2009 |
| Telegraph Media Group Limited | FRN 415487 | 02/10/2007 | 21/11/2017 |
Review page sources: FCA Register (FRN 219473) · Companies House (04398291) · FSCS. Public records, provided for transparency.
