Bluefin loses appeal over return of £240k 'goodwill' payment

clock •

The High Court has dismissed an appeal by Thinc Group - now Bluefin - against a ruling which said it could not claim back goodwill payments worth more than £243,000 from two self-employed advisers whose contracts with the business were terminated.

Husband-and-wife team Helen and Ashley Armstrong had joined Thinc Group in April 2008. To compensate them for bringing to Thinc their 10,000-strong client base, the Armstrongs were offered a 'disturbance allowance' of just over £243,000. However, the couple's contracts with the company were terminated a little over a year later, in June 2009, on the basis that their business levels were falling "considerably lower" than expected. Though the contracts had set out the ability of Thinc to terminate the arrangement, even "without cause", the national group lost a court case to reclaim ...

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 Regulation

FCA stands firm on not advocating for legislative change on AI

FCA stands firm on not advocating for legislative change on AI

‘That is the appropriate proportionate response’

Sophia Panayi
clock 22 October 2026 • 2 min read
FCA deputy CEO confirms simplified advice rules will  be published 'soon'

FCA deputy CEO confirms simplified advice rules will be published 'soon'

Sarah Pritchard speaks at the Investment Association Annual Dinner

Sophia Panayi
clock 22 October 2026 • 2 min read
FCA bans and fines ex-CEO after misconduct led to £4m losses in mini-bonds

FCA bans and fines ex-CEO after misconduct led to £4m losses in mini-bonds

Vector Wealth’s Jeffrey Dawkins fined almost £270,000

Sophia Panayi
clock 21 October 2026 • 1 min read