Intelligent Money Limited – in Creditors’ Voluntary Liquidation

Kristina Kicks and Richard Heis of Interpath Ltd were appointed as Joint Liquidators of Intelligent Money Limited ("IML", "Intelligent Money" or the "Company") on 31 October 2024 (the "Liquidation").

Richard Heis and Ed Boyle were previously appointed Joint Administrators of the Company on 28 May 2024. The website for the administration of the Company is available here: https://www.ia-insolv.com/case+INTERPATH+IO425A2016.html.

IML is a UK Financial Conduct Authority (‘FCA’) Authorised and Regulated product provider with its own range of managed investment portfolios, SIPPs, Pensions, ISAs and GIAs. It provides the technology, administration, technical and compliance expertise for c.20,000 SIPPs and has c.20,000 clients, with total assets under management equating to c.£1.4 billion.

The Company had experienced a number of financial and regulatory challenges, including a number of complaints made to the Financial Ombudsman Service (FOS) which brought rise to compensation claims at a level the Company was unable to meet.

As a result of these challenges and potential financial liabilities, the directors of the Company resolved to place the Company into administration in May 2024.

Prior to the administration appointment, the Directors completed a sale of the business and assets of IML’s qualifying workplace pension scheme (‘QWPS’) to Digital Wealth Systems Limited, a provider of workplace pensions to both employers and employees. Approximately c.£30 million of assets under investment and c. 10,500 clients have been transferred as part of this transaction. Consequent to this sale, Seccl Technology Limited ("Seccl") is now the pension scheme operator. Separately, the Company’s business and assets were acquired by Quai Administration Services Limited (‘Quai’), via a pre-pack transaction. Quai specialise in pensions, savings, and investment administration services. Approximately c.£1.2 billion of assets under investment and c. 8,400 clients have been transferred to Quai as part of this transaction. Consequent to this sale, Quai Investment Services Limited ("QISL") is now the pension scheme operator.

In addition, IML’s 18 employees transferred to Quai. Customers can find out further information on their pensions at www.intelligentmoney.com.

Further information on the insolvency, including for customers who have or may have a complaint against the firm can be found in the attached FAQs.

If you have amounts due to you from the Company as at the date of appointment, you can register a claim by completing a proof of debt form.

Proof of debt form

Please send your completed proof of debt form, together with supporting documentation, by email to the case contact or by post to:

Intelligent Money Limited – in Liquidation
C/o Interpath Advisory
5th Floor
130 St Vincent Street
Glasgow G2 5HF

Supporting documentation for your claim includes invoices, statements of account, proofs of delivery, contracts or any other relevant information.

Kristina Kicks and Richard Heis are authorised to act as insolvency practitioners by the Institute of Chartered Accountants in England & Wales.

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