Openwork bills adviser £2,000 some seven years after leaving network

To pay by 20 August

Hannah Godfrey
clock • 3 min read

A former Openwork adviser has been charged nearly £2,000 for an investigation against him that resulted in no compensation being awarded, some seven years after he left the network.

Former Openwork adviser Darren Wilkes was sent a £1,882 bill from the network for costs associated with an investigation it conducted into mortgage payment protection insurance (PPI) policies sold by Wilkes back in 2006. On 14 May, Wilkes received a letter from Openwork informing him the network had conducted the investigation after a former client launched a complaint against him. Openwork's investigation upheld the complaint but found the former client had faced no financial loss, and as such, no compensation was offered. Wilkes was then billed nearly £2,000 by the network for 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

PA360: Investors must understand importance of 'proper diversification'

PA360: Investors must understand importance of 'proper diversification'

‘Investors don’t have to choose a single door’

Sahar Nazir
clock 01 May 2025 • 1 min read
Owning the 'why?': Verona Kenny reflects on six months at Aberdeen Adviser

Owning the 'why?': Verona Kenny reflects on six months at Aberdeen Adviser

'We need to be consistent. We need to get the basics right every single time'

Verona Kenny
clock 01 May 2025 • 4 min read
Fairstone refines buyout terms to focus on high-growth potential IFAs

Fairstone refines buyout terms to focus on high-growth potential IFAs

Updated DBO model to ‘support increased valuations’

Jenna Brown
clock 30 April 2025 • 2 min read