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.
