Intelligent Money Ltd is a self-invested personal pension operator regulated by the UK Financial Conduct Authority (FCA).
On 28 May 2024, the directors of Intelligent Money appointed Richard Heis and Edward Boyle of Interpath Advisory as joint administrators. Joint trustees are qualified insolvency practitioners.
Actions taken prior to the appointment of administrators ensured that management of SIPPs, Individual Savings Accounts (ISAs) and General Investment Accounts (GIAs) was transferred to another regulated company, Quai Investment Services Limited (Quai), so that the consumers can continue to contribute, withdraw and make investment decisions as before.
The Financial Services Compensation Scheme (FSCS) is now open to claims against Intelligent Money and will investigate whether any claims qualify for compensation.
The FSCS is the compensation system for customers of authorized financial services firms in the UK and protects consumers when these firms are unable to meet protected claims against them. The FSCS has eligibility criteria in terms of the activities and people covered.
If you have an existing claim with the FSCS against a different authorized firm (ie a financial adviser) relating to an Intelligent Money SIPP investment, the FSCS will continue to process that claim.
If you are an Intelligent Money customer, you should visit the dedicated FSCS website.
There is more general information about the FSCS on their website or you can call 0800 678 1100 to speak to them directly.