Inspirational Financial Management Ltd
Under investigation 04 December 2023
You might be eligible for compensation
Inspirational Financial Management Ltd is a financial advice firm, which became authorised in July 2003. The firm entered administration on 30 November 2023.
FSCS is now considering claims against this firm. All claims will be assessed on a case-by-case basis, to determine whether they are eligible for compensation. As part of our investigations, FSCS will consider whether the firm can meet claims made against it.
You may be able to make a claim against Inspirational Financial Management Ltd. To find out, click the ‘Check if you can claim’ button on this page. The next step will be to answer a series of straightforward questions.
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 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.
If you have any questions, please contact us. We’ll be happy to help.
You can sign up for news updates about this firm to be sent to your email address by using the ‘Subscribe to updates’ box on this page. Note that firms with few claims against them may not generate any updates.
British Steel Pension Scheme
Inspirational Financial Management Ltd is one of the firms associated with claims regarding the British Steel Pension Scheme (BSPS) and defined benefit transfer advice related to other occupational pension schemes.
In 2017, many British Steel workers were advised to transfer out of their defined benefit pension into a defined contribution pension, known as a Personal Pension Plan or a Self-Invested Personal Pension (SIPP).
The Financial Conduct Authority (FCA) set up a redress scheme for people who were advised to transfer out of the BSPS between 26 May 2016 and 29 March 2018. This scheme started on 28 February 2023 and firms should have contacted their impacted clients about the scheme.
Firms were asked to review the advice they gave, identify if it was unsuitable, and calculate and pay redress to clients where the unsuitable advice caused a financial loss.
As Inspirational Financial Management Ltd has gone out of business, it won’t be able to continue to take part in the redress scheme. You can now make a claim directly with us. If you don’t, you may end up with less money in retirement than you should have done. FSCS may be able to pay up to £85,000 in compensation.
If you think that this applies to you, download our compensation claim guide (pdf 0.1MB), and when you're ready, click the ‘Check if you can claim’ button.
You can also find out more about defined benefit pension transfer advice generally, including how we calculate compensation for pension transfer claims.