Scottish Life latest provider to accept Honister bulk transfers

Scottish Life follows Aviva, Standard Life, Aegon and Skandia who have all said they will allow bulk novations following what they consider to be a termination of their contract with the now defunct firm, Honister Capital. This follows the move by Honister administrators Grant Thornton, last month, to approve the sale of Honister advisers' pipeline commission to corporate advice firm MacRobins. Honister Capital was put into administration in July, after it failed to secure professional indemnity insurance (PII) for its member firms. Receipt of an uninsured claim for £6m contributed...