The Financial Services Compensation Scheme has today launched an investigation into City of London-based InterestMe Financial Planning Limited (IMFP) (FRN 542680) which went into administration last week on 24 September.
The FSCS has opened the door to customer claims but has not so far declared the firm as failed.
The FSCS said that IMFP was set up in 2011 and was an independent financial adviser firm providing regulated advice on pensions, retirement planning, investments and pension transfers. IMFP also hosted an appointed representative, InterestMe Advisers Ltd (IMA).
Robert Goodhew and Geoff Bouchier of Kroll Advisory Ltd have been appointed as joint administrators to IMFP and IMA. Immediately following the appointment, the administrators completed a sale of InterestMe’s client book and associated assets to My Pension Expert Limited (MPE).
The firm is believed to have employed more than 20 people.
InterestMe Financial Planning was authorised by the FCA and claimed a 4.7 out of 5 rating on VouchedFor. The FCA said the firms carried out regulated activities, including Financial Planning.
On 24 July, IMFP agreed to a voluntary requirement which restricted its activities. The firm agreed not to undertake new regulated activities, including accepting new customers or new investments, and not to dispose of, transfer or otherwise deal with its assets, client money or client assets without the prior written consent of the FCA.
It had previously agreed on some restrictions on its activities in April 2019, July 2020, and in October 2022. It achieved FCA authorisation in 2011 and began trading as Interestme Wealth in 2017 and registered the name EGR Wealth Limited in 2020, according to the FCA Register.
Companies House records show the business traded under the name Thistle Consulting London Limited between 2010 and 2014 before it became Wise Pension Group, the name it traded under until 2017 when it became InterestMe Financial Planning.
The firm’s website lists Chris Long as managing director, Umer Farooq as finance director and Luca Giorgetti as compliance officer. It also lists 18 other staff working at the firm, either as financial advisers or working in client services.
Mr Long, 56, became a director of Too Long Investments Ltd in July this year and has previously or still holds directorships at some 31 companies. They include Titan Black Limited, Elite Asset Lending Limited, Vat Lending Limited, TL Capital Limited, Advisability Limited, Legerity Financial Ltd, Return Over Time Limited, Calgevity Ltd, HLP Investments LLP, Purple Financial Investments Limited, Legacy Properties Group Ltd, LPL Properties Limited, LPL Finance Limited, Too Long Investment Ltd, EC Markets Group Ltd, Loveshaker Limited, Functionaliteam Limited, Valchemy Linited, Kasshin Limited, Barika Capital Limited, MHW Services Limited, and Blewater Bio Limited.
The FCA said IMFP does not hold client money or custody assets. The regulator added: “We recognise many customers may be concerned about their investments. The joint administrators are now in control of the firms.”
Customers can speak to the joint administrators by email at
• The Financial Conduct Authority (FCA) has published an update on the firm here.
• Editor's note: Story updated to add details of FSCS investigation. Further FSCS information is available here: InterestMe Financial Planning Ltd | FSCS