Chryson Ltd, trading as IQ Money, Chryson Wealth Management, Sharewatch UK
What this means for you
Because Chryson Ltd, trading as IQ Money, Chryson Wealth Management, Sharewatch UK has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.
Background
Chryson Ltd, which operated under the trading names IQ Money, Chryson Wealth Management, and Sharewatch UK (FRN: 491208), provided investment advice and managed unregulated collective investment products before being declared in default by the FSCS on 23 August 2023. The firm's failure exposes investors to potential losses, as unregulated collective investments fall outside standard FSCS protection parameters. Former customers may be eligible for FSCS compensation up to £85,000 per eligible claim relating to regulated investment advice services, though compensation for unregulated collective investments is not covered.
Products this firm wrote
How to claim
- Check you were a customer of this firm during the period it was regulated.
- Gather your policy / advice / contract paperwork — start with anything you have in writing.
- Identify your loss and the date it crystallised.
- Apply via the FSCS online claim portal at claims.fscs.org.uk.
- The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.