Honister Capital administrator Grant Thornton has sold its advisers' commissions to a corporate advice firm, with some IFAs forced to pay more than 50% of commissions to novate clients to another firm.

Wealth manager St James's Place (SJP) is offering a range of extra services to strengthen relationships with new and existing clients.

Financial planner and asset manager Ashcourt Rowan has announced a pre-tax loss of £2.32m for the year ending 31 March, against £5.75m in the previous year.

A significant proportion of advisers are to adopt a "second platform" strategy following the Financial Services Authority's (FSA's) finalised guidance on independent and restricted advice, according to the Platforum's adviser platform guide.

The Personal Finance Society (PFS) has appointed Sharon Sutton as an adviser to its board.

Skandia is to facilitate bulk transfers of business for ex-Honister advisers who have been reauthorised under a new firm.

Crewe-based adviser Jones Sheridan Financial Consulting has acquired IFA firm Brown & Corbishley Financial Services, as part of a drive to take over four IFA businesses in the run-up to the Retail Distribution Review (RDR).

INVESTMENT TRUSTS

Her Majesty's Revenue & Customes (HMRC) is to repay an adviser £259,000 for incorrectly charging VAT on intermediary services.

Advisers refusing to serve low value clients are damaging the IFA brand, according to trade body the IFA Centre.