An IFA who was part of failed network Honister Capital says some providers refused to take his calls when the business went into administration in July, leaving him unable to keep clients informed about their investments.
Andrew Elson, now a financial planner at Beaufort Asset Management, said the difference in how providers treated him shocked him. "There were some providers who bent over backwards to help - and some who wouldn't even speak to us. Mortgage providers were among the worst." Elson praised Aviva and Skandia as "fantastic" during the troubled times with Honister, where he was an appointed representative. But he said Axa Elevate was among the worst. "Elevate wouldn't take our calls. It just told us to speak to the administrator. Scottish Widows took a while to decide whether it would re-...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
