Harlequin advisers netted up to 15% in commission

Gareth Fatchett of Regulatory Legal, which acts on behalf of more than 1,000 investors in Harlequin, said "master agents" were paid commissions of up to 15% of the total cost price of the villas clients invested in, with sub agents receiving 9% of that. IFAonline has seen a document from Harlequin circa August 2012 offering to pay its agents up to 9% of the sales price of the property. On a £100,000 property, advisers and agents being paid the full 15% netted £15,000 in commission, Fatchett said. However, as most investors only paid deposits of 30% on their properties, once the £15...