Towry transfer victim needs cash for hospital treatment

clock •

An elderly man taken ill in New Zealand is struggling to pay for medical treatment because his money is caught up in the Towry transfer debacle.

The man, a former client of Edward Jones who was visiting relatives in New Zealand, needs to pay for hospital treatment but the delay in transferring his assets from Towry to his chosen platform means he cannot access the money. "This is an example of some of the difficulties people are facing from being stuck in a state of limbo due to these delays," said a source in contact with the man's UK-based IFA. "This is the last thing someone should worry about when ill on the other side of the world." The only other capital the man has which is not tied up in Towry is an offshore bond. ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Succession Alliance launches first profession-wide succession survey

Succession Alliance launches first profession-wide succession survey

Open to people in all roles working in financial planning firms

Sophia Panayi
clock 29 September 2026 • 1 min read
The future of our profession will benefit from greater collaboration

The future of our profession will benefit from greater collaboration

'The profession continues to operate and evolve in an environment of profound change'

Keith Richards
clock 28 September 2026 • 4 min read
Burnham to propose social care plans at general election

Burnham to propose social care plans at general election

Aims to be preventative

Jaskeet Briah
clock 28 September 2026 • 2 min read