2plan in £500k court case with IFA

Laura Miller
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2plan, the national IFA, will stand trial at the High Court in Leeds on Monday accused of "fraudulent misrepresentation" by an IFA seeking £500,000 in damages from the company.

Peter Trotman, former managing director of Source Financial, claims 2plan offered him financial inducements and a seat on the national's board in exchange for bringing over around 30 advisers 2plan cherry-picked from his firm, but it then reneged on the deal. However, 2plan is bringing its own case against Trotman for about £100,000 it claims the company lost as a result of what it alleges was his failure to comply with his contractual obligations when 2plan bought his firm in 2009. It says Trotman's case is nothing more than a "spurious counter claim". But Trotman's solicitor says h...

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