Mis-selling claims against financial institutions have become increasingly prevalent in recent years. One such case is Integral Asset Management Ltd, a discretionary fund manager (DFM) and wealth manager.
This article aims to inform you of the mis-selling claims surrounding Integral Asset Management Ltd and guide you on opening a mis-sold pension claim. If you have invested with this firm and suspect mis-selling practices, read on to understand your rights and the steps to seek compensation.
What is a Discretionary Fund Manager (DFM) and Wealth Manager?
To fully understand the implications of mis-selling claims against Integral Asset Management Ltd, it is important to grasp the roles of a discretionary fund manager (DFM) and a wealth manager. These terms are often used interchangeably, but they have distinct characteristics.
A DFM is a financial professional or institution entrusted with managing an investor's portfolio on a discretionary basis. This means that the DFM has the authority to make investment decisions on behalf of the client without seeking their prior approval for each transaction. DFMs typically provide personalised investment strategies, tailored to the client's risk appetite and financial goals.
On the other hand, a wealth manager is responsible for overseeing a client's entire financial picture, encompassing not only investments but also various aspects of their wealth, such as tax planning, estate planning, and retirement planning. Wealth managers often collaborate with other professionals, such as tax advisors and estate lawyers, to offer comprehensive financial solutions.
Integral Asset Management Ltd claimed to offer both DFM and wealth management services to their clients. They presented themselves as experts in managing portfolios and optimising wealth, promising personalised investment strategies and holistic financial advice.
Understanding Integral Asset Management Ltd:
Integral Asset Management Ltd is a regulated financial institution operating in the United Kingdom. It is important to note that this firm is authorised for specific activities and product types, and it is crucial to check their full record to understand the regulated activities they have permission to undertake.
Mis-Selling Practices and Regulatory Actions:
Integral Asset Management Ltd has faced regulatory actions due to its mis-selling practices. On specific dates, the firm received sanctions and restrictions, which should raise concerns about its conduct and treatment of investors.
For example, on 07 Feb 2023, the firm was instructed not to dispose of, deal with, or diminish the value of any of its assets without prior written consent. On 05 May 2022, the firm was prohibited from carrying out regulated activities or onboarding new clients without the authority's consent.
Moreover, the firm was required to withdraw financial promotions and trading names, such as Stemwealth and EIS-wise, on 08 Oct 2021.
These regulatory actions highlight the need for vigilance when dealing with Integral Asset Management Ltd and prompt affected investors to explore the possibility of opening a mis-sold pension claim.
Connections and Trading Names:
Integral Asset Management Ltd has connections to appointed representatives and agents, including Integral DM Limited and Investors RouteMap Ltd. Understanding these connections can provide insights into the firm's network and potential avenues for pursuing a mis-sold pension claim.
The firm has also used various trading names in the past, such as Stem Wealth, UK Tax Efficient Investments, Trust Financial Planning, and Professional Investment Tools Limited. Familiarising yourself with these trading names can help in identifying potential instances of mis-selling and gathering evidence for your claim.
Claims and Promises Made by Integral Asset Management Ltd
Integral Asset Management Ltd, like many other financial institutions, marketed their services with various claims and promises to attract investors. It is crucial to understand these claims and promises to evaluate the extent of mis-selling practices and the potential impact on affected investors.
Tailored Investment Strategies: Integral Asset Management Ltd claimed to provide customised investment strategies based on each client's risk tolerance, financial goals, and time horizon. They purported to have the expertise to create portfolios that align with the specific needs of their clients.
Robust Risk Management: The firm emphasised their commitment to effective risk management, promising to employ rigorous risk assessment techniques to protect clients' investments from market volatility and downturns. They claimed to have sophisticated systems and methodologies to monitor and mitigate risks.
Comprehensive Wealth Management: Integral Asset Management Ltd positioned themselves as comprehensive wealth managers, offering a range of services beyond investment management. They claimed to provide holistic financial planning, including retirement planning, tax optimisation, and estate planning, to help clients achieve their long-term financial objectives.
Access to Exclusive Investment Opportunities: The firm boasted access to exclusive investment opportunities that were not readily available to the general public. They claimed to have a network of strategic partners and affiliations that provided unique avenues for wealth growth and diversification.
It is important to note that these claims and promises made by Integral Asset Management Ltd need to be evaluated in light of the mis-selling allegations. If the firm failed to deliver on these representations or engaged in deceptive practices, affected investors may have grounds for a mis-sold pension claim.
Opening a Mis-Sold Pension Claim:
If you suspect that your pension was mis-sold by Integral Asset Management Ltd, you have the right to open a mis-sold pension claim.
Follow these steps to initiate the process:
a. Gather Evidence: Collect all relevant documentation, including pension statements, investment records, correspondence with the firm, and any promotional material or communications you received.
b. Seek Expert Advice: Consult with a professional claims management company like CP Financials Claims to understand the strength of your claim and the potential compensation you may be entitled to. Their expertise will guide you through the claims process.
c. Submit a Complaint: Prepare a formal complaint to Integral Asset Management Ltd, outlining the details of your mis-selling allegations. Be sure to include all supporting evidence and request a written response within a specified timeframe.
d. Escalate the Claim: If the firm fails to respond satisfactorily or denies your claim, escalate the matter to the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS), depending on the circumstances. These independent bodies can review your claim and provide a fair resolution.
What Do We Do Now?
Consulting with a professional claims management company, such as CP Financial Claims, will provide expert guidance throughout the claims process. You can do so, by entering your details below and our friendly team will contact you for a free no-obligation chat.