Intuitive Associates Ltd was an independent financial advisory firm that was one of the companies associated with the British Steel Pension Scheme scandal.
Intuitive Associates Ltd exploited the uncertainty that surrounded Tata’s Steel decision to sell its UK business in 2016, by advising many British Steelworkers to swap their defined benefit pension into risky investments and SIPP products losing valuable accrued benefits when they did. They were incorporated as a private limited company on 23 February 2017 and a voluntary liquidator was appointed on 03rd December 2019.
Intuitive Associates Ltd was a Nottingham-based company that traded under the name of Intuitive Financial Associates. Their address was The Cornerhouse Robey Close Linby Nottingham NG15 8AA until 4th December 2019 when it changed to 3rd Floor 37 Frederick Place Brighton BN1 4EA. While trading, the company had one officer Shipton, Jessica (active). Their last accounts were made up to 31 March 2018, and their last annual return was made up to 22 February 2019.
Were you advised to transfer your pension funds by Intuitive Associates Ltd?
Intuitive Associates Ltd has been liquidated since 15 March 2021 so you will not get a penny from them.
However, the Financial Services Compensation Scheme (FSCS) is accepting claims about Intuitive Associates Ltd. Were you mis-sold SIPP or investment products by any of the advisors at Intuitive Associates Ltd? If so, you may qualify for mis-sold pension or SIPP compensation from the Financial Services Compensation Scheme (FSCS).
What did Intuitive Associates Ltd do wrong?
Intuitive Associates Ltd is one of the companies associated with claims concerning the advice to transfer away from the British Steel Pension Scheme (BSPS).
During 2017, many British Steelworkers 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).
Sadly, many British Steelworkers received negligent advice to transfer their desirable final salary pension to an inferior private plan. Many of which were then invested in high-risk esoteric funds that failed.
British Steel employees received enviable pensions. These were often final salary pensions, which keep pace with inflation. When the cost of living increases, your monthly income increases as well, and they don’t have fees or extra costs. Best of all, a final salary pension (also known as a defined benefit pension) lasts as long as you live.
By transferring to a private pension arrangement, British Steel employees would have lost the benefits already built up in the British Steel Pension Scheme. It may not have been realistic to achieve the same level of benefits from their new plan. These private pension schemes are limited – when the pot runs out, it runs out, which could leave you destitute in your golden years. Since they’re tied to the market, these risky pension plans can dwindle to zero overnight. You are also charged high annual fees and commissions.
FSCS Intuitive Associates Ltd claims
Intuitive Associates Ltd has been declared in default by the Financial Services Compensation Scheme and can no longer pay out any returns. This means that the UK’s compensation scheme for failed financial services firms will pay compensation for valid mis-selling claims. Allegiant can assist you with claims to the FSCS about Intuitive Associates Ltd. Fill in our online application form to get started.