Unsure providers set up holding funds for Honister commissions

Aegon, Standard Life and Fidelity FundsNetwork have confirmed to IFAonline that they have set up the funds. Last month, Grant Thornton, the administrators of Honister Capital, agreed the sale of its advisers' trail and pipeline commissions to corporate adviser MacRobins. It argued the revenue belonged to Honister Capital and that the move was consistent with that taken by previous insolvency practitioners in the sector. Under the terms of the deal, the advisers can re-connect with their trail income if they, first, become re-authorised with another firm and, second, pay MacRobins a...