Intelligent Money Limited – in Administration

Richard Heis and Ed Boyle from Interpath Advisory were appointed Joint Administrators to Intelligent Money Limited (‘IML’ or ‘the Company’) on 28 May 2024.


Based in Nottingham, 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 recently experienced a number of financial and regulatory challenges, including a number of complaints made to the Financial Ombudsman Service (FOS) which gave rise to compensation claims at a level the Company was unable to meet. Additionally, regulatory restrictions have recently been placed on the Company which means it is currently unable to dissipate its assets.


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


Prior to the Joint Administrators' 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.


Separately, the Company’s business and assets have been 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. In addition, IML’s 18 employees have transferred to Quai. Customers can find out further information on their pensions at www.intelligentmoney.com.


If you are a customer whose SIPP, ISA or GIA held non-standard assets according to the Company’s records, you may be entitled to claim redress. Following the Company’s insolvency, the Financial Services Compensation Scheme (FSCS) is now open to redress claims against Intelligent Money and the FSCS will be investigating whether there are any redress claims that meet their qualifying conditions for compensation. If you are a client of Intelligent Money seeking redress, you should visit the dedicated FSCS webpage https://www.fscs.org.uk/making-a-claim/failed-firms/intelligent-money/ or you can call 0800 678 1100 to speak to them directly.

Please see below for full details of this update.


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.

Statutory notices and reports

Customer FAQs 
Proof of Debt 
Notice of creditors right to become opted-out creditor 
Notice to creditors of right to revoke decision to opt-out 
Creditors Request for a Decision 
SIP 16 Memorandum 
Initial letter to creditors on appointment 
Notice of Administrators' Proposals - Creditors 
Joint Administrators Proposals 
Notice of approval of administrators' proposals (deemed approval) - Creditors 

How to submit a claim

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.

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 Administration
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.

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

We are bound by the Insolvency Code of Ethics.

The Officeholders may be Data Controllers of personal data as defined by the Data Protection Act 2018. Personal data will be kept secure and processed only for matters relating to the appointment. For further information, please see our Privacy Policy.