IVA Wealth is a
claims management company (
CMC) that offers services to help consumers seek redress for issues related to car finance agreements. As part of the financial ecosystem, CMCs operate by submitting complaints on behalf of individuals who believe they have been unfairly treated by their lenders. However, it is important for consumers to understand that they do not need a claims management company to lodge a complaint; they can
complain directly to their lender at no cost.
How Does IVA Wealth Operate?
IVA Wealth provides services to help consumers deal with the complex process of claiming redress from car finance providers. These companies typically operate under a
discretionary commission arrangement (DCA), where they receive compensation based on a percentage of any payout received by the consumer. This means that for every pound recovered, a significant portion goes towards the fees of the CMC. For instance, if an average £829 redress amount is awarded (FCA estimate), IVA Wealth or similar CMCs might charge around 30%, resulting in a fee of £210 and leaving the consumer with only £490.
Why You Do Not Need a Claims Management Company
Since April 2019, claims management companies like IVA Wealth must be authorised by the Financial Conduct Authority (FCA), as part of an ongoing effort to regulate these entities more effectively. Prior to this date, CMCs were regulated by the Ministry of Justice. The FCA’s oversight ensures that consumers dealing with car finance issues can trust that any claims management company they engage with is compliant with strict regulatory standards.
However, it is crucial for consumers to understand that they have the right and capability to complain directly to their lender without involving a CMC. This process involves no cost and allows individuals to retain full control over their case. The FCA motor finance scheme covers an estimated 12.1 million eligible agreements (FCA, March 2026) with a total redress amount of £7.5 billion (FCA estimate) for the period from 6 April 2007 to 1 November 2024.
How to Verify FCA Authorisation
To ensure that you are dealing with an authorised claims management company, it is essential to verify their status through the Financial Conduct Authority’s register. Here are the steps:
1.
Visit the FCA Register: Go to https://register.fca.org.uk/s/
2.
Search for IVA Wealth or any other CMC: Use the search bar and enter the name of the company you wish to check.
3.
Review the Authorisation Status: Once you find the entry, review whether the company is authorised to carry out claims management activities.
This process provides a straightforward way to ensure that you are dealing with a legitimate and regulated entity.
Sources and References
- Financial Conduct Authority (FCA), 2024: "Estimated Redress Amounts in Motor Finance Schemes" [https://www.fca.org.uk]
- FCA Register, https://register.fca.org.uk/s/
- FCA Authorisation Requirements for Claims Management Companies, April 2019
- Discretionary Commission Arrangement (DCA) Information from the Financial Conduct Authority
By understanding these points, consumers can make informed decisions about how to proceed with their car finance complaints and ensure that they receive fair redress without unnecessary intermediaries.
You can
complain to your lender directly for free. You do not need a claims management company to check whether you are owed compensation.
Key FCA Figures
The FCA confirmed on 30 March 2026: 12.1 million eligible agreements, £829 average compensation per agreement, £7.5 billion total redress at 75% consumer uptake, and £9.1 billion total cost to firms. The scheme covers agreements from 6 April 2007 to 1 November 2024. Two deadlines apply: 30 June 2026 for post-2014 agreements and 31 August 2026 for pre-2014. Final complaint deadline: 31 August 2027.
You can complain to your lender directly for free. You do not need a claims management company.
---
MLJ.org.uk (mlj.org.uk) is a free, independent information service. We are not a claims management company, solicitor, law firm, or financial adviser. We do not handle complaints, process claims, charge fees, or accept any percentage of compensation. This information does not constitute legal or financial advice. You can complain to your lender directly for free. You do not need a claims management company. If your lender rejects your complaint, you can escalate to the Financial Ombudsman Service at no cost. For personalised legal or financial advice, consult a qualified professional.