Two AFH Financial firms on FSCS list of defaults

Nottinghamshire-based Arden Court group and Cheltenham-based Specialist Solutions were named as two of 13 advisory and mortgage broking firms that have defaulted. Advice firm consolidator AFH bought the assets and goodwill of the two firms in the first half of 2012, the year after its listing on the stock exchange. But it did not assume any advice liability incurred prior to the acquisition, therefore, it said, it was not implicated in the later defaults, which were due to previous bad advice. Specialist Solutions was worth £725,000 at the time, while Arden Court changed hands for ...