Origen posts £2.9m loss as suitability review hits bottom line

Laura Miller
clock

Aegon-owned network Origen Financial Services has posted a loss before tax of £2.9m after a £1.9m provision for a review into advice suitability impacted on the businesses bottom line.

The Origen board began a review of the firm's systems and controls and the suitability of regulated advice given to clients in 2011, with the aim of "identifying any past failings and embedding best practice". Origen said it expects the work to be completed this year, and, along with the £1.9m recognised in the accounts, it has made a £320,000 provision against this review for 2012. The 2012 loss of £2.9m is an improvement on the company's results in 2011, when it posted a £3.5m loss. However income for the year fell to £16.2m, down 8% from £17.6m in 2011, largely as a result of th...

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

Financial capability: Why advisers are central to the solution – and the opportunity

Financial capability: Why advisers are central to the solution – and the opportunity

Education is the most scalable growth strategy advisers have

Dan Russell
clock 21 May 2026 • 4 min read
Why FCA scrutiny of consolidator integration is growing

Why FCA scrutiny of consolidator integration is growing

A shift from acquisition strategy to integration capability

Isabel Baxter
clock 20 May 2026 • 6 min read
Confidence among advisers 'extremely high' as profession thrives

Confidence among advisers 'extremely high' as profession thrives

Annual advice profession snapshot from Dynamic Planner

Jenna Brown
clock 20 May 2026 • 3 min read