You might be eligible for compensation
Independent Portfolio Managers Ltd is no longer trading, so you may be able to make a claim against it. To find out, click the ‘Check if you can claim’ button.
The next step will be to answer a series of straightforward questions.
We'll need various documents to consider your claim. Our Before you make a claim page details what each type of claim requires.
Should you need help, click on the ‘Need help’ button and choose to speak to one of our friendly claims handlers, or type a question into the FAQ option.
You don't need a claims management company or a solicitor to make a claim with us, but if you're not good with forms, consider using a friend or family member as a personal representative.
Above right you can sign up for news updates to be sent to your email address. Note that firms with few claims against them may not generate any updates.
Latest updates
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13 Nov, 2019
Claims made against Independent Portfolio Managers Ltd have now all been moved to our claims processing teams for assessment. Decisions on these claims will be sent out shortly.
As we outlined in our previous update, we’re aware that FCA authorised advisers may have recommended customers invest with Independent Portfolio Managers Ltd. Or they may have recommended transferring existing pensions or investments through a self-invested personal pension (SIPP).
If this applies to you and the adviser is still trading, you need to complain to that adviser. If the adviser rejects the complaint, you can take your complaint to the Financial Ombudsman Service (FOS). After adjudication from the FOS, you can make a claim with us.
If, however, the advice came from an FCA authorised adviser that’s now not trading, you should firstly submit a claim to FSCS against the financial adviser.
If you think you’ve got a claim, click the ‘Check you can claim’ button to start the process.
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24 Oct, 2019
In November, claims against Independent Portfolio Managers Ltd will be passed to our claims processing team for assessment. This is because we’ve concluded that Independent Portfolio Managers Ltd may owe a civil liability to its customers. Or, in other words, that there’s the potential the firm could be sued in court.
We’re currently finalising our approach to how we’ll deal with these claims. Each claim will need to be considered individually to see if compensation is due.
To consider claims against a failed firm, we’ve got to be sure that customers have first tried every approach to claim against any connected firm that's still trading, and have been unsuccessful.
We’re aware that FCA authorised advisers may have recommended customers invest with Independent Portfolio Managers Ltd. Or they may have recommended transferring existing pensions or investments through a self-invested personal pension (SIPP).
If this applies to you and the adviser is still trading, you need to complain to that adviser. If the adviser rejects the complaint, you can take your complaint to the Financial Ombudsman Service (FOS).
If, however, the advice came from an FCA authorised adviser that’s now not trading, you should firstly submit a claim to FSCS against the financial adviser.
FSCS considers different factors when calculating losses on pension advice (a claim against financial advisers) compared to discretionary fund manager investments (a claim against discretionary fund managers, in this case Independent Portfolio Managers Ltd).
This means you may be eligible to receive more compensation for any losses by claiming against your financial adviser than if you just made a claim against your discretionary fund manager.
If you think you’ve got a claim, click the 'Check you can claim' button to start the process.
Commonly asked questions
How many customers are affected?
There are potentially 2,000 UK customers that may be affected by the failure of IPM but the value of potential claims is still unknown. Many customers invested into one of two failed mini bonds which IPM had approved. We are aware that many former customers of IPM have outstanding complaints with the firm / Financial Ombudsman Service (FOS) prior to it failing.
What do customers need to do?
All former IPM customers who think they are entitled to compensation should make a claim online with us as soon as possible. This is the fastest and easiest way to make a claim and you can also track the progress of your claim.
Who can customers speak to if they have any questions?
You can contact us if you have any questions about IPM or about making a claim against them. We will also continue to update this page with the latest developments. Get notification of the latest updates by following FSCS on Twitter and Facebook.