IFAs fear client reprisals as Stan Life cuts fund value

They are also worried clients may blame them for the losses especially as the fund has not behaved as they would have predicted. Chris Geeson, managing director of Geeson Financial Services, who has invested £3-4m of clients' money in the fund, called the move "diabolical" and said this was the sort of move that could put small IFA firms out of business. "Although I only have a dozen clients invested in the fund, they are a dozen who have a lot of money and overnight Standard Life has decided to wipe 5% off the value," he says, adding that one client had lost almost £60,000. "What hap...