Independent Portfolio Managers Ltd has failed
London-based Independent Portfolio Managers Limited (IPM) has become the latest firm to fail after it was declared in default on 3 December 2018.
The news comes after a long-running dispute between IPM and its customers, which saw investors lose millions from the failure of two mini bonds that the firm had promoted. Many of these customers still have outstanding complaints with IPM and the Financial Ombudsman Service.
Jimmy Barber, Chief Operating Officer at FSCS, yesterday said:
“We estimate that 2,000 UK customers may be affected by the failure of IPM. However, the value of potential negligence claims is still unknown. We encourage all former IPM customers who think they might be entitled to compensation to make a claim on our website right away.”
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