'Why weren't we told?' The inside story of Honister's demise

James Espin was eating breakfast at 7am when the email from his chief executive officer, Colman Moher, arrived. Due to professional indemnity insurance (PII) reaching “unprecedented levels”, Espin read, Honister Capital and its subsidiary companies – Burns-Anderson, Sage Financial Services and Honister Partners – had entered administration, leaving advisers unable to write new business “with immediate effect”. “I must have been one of the last to be told, because by the time I got to the office the email had been shut off,” said Espin, an adviser at John White Associates. He was wr...