Gaudi Limited - administration

Gaudi Limited, a top ten UK firm of SIPP providers, entered administration on 25 April. The company provided ‘white label’ SIPPs and had 13,500 customers. According to its latest set of accounts, it recorded revenues of £2.1m and had net assets of £1.5m. Sean Bucknall and Andrew Watling of Quantuma were appointed joint administrators. According to Quantuma, "claims arising as a result of a small number of complaints made to the Financial Ombudsman Service would have rendered the company insolvent and unable to meet the FCA’s capital adequacy test." The joint administrators have completed a sale of the business and assets to Platform One, an intuitive investment platform with £2.7bn assets under administration on its technology.