When a firm goes to the wall the pain is felt by everyone: the advice profession suffers because it reflects badly on the market as a whole; the advisers see all they've worked to achieve for many years slip from their grasp.
But the ramifications go further still when you consider the impact on those advisers’ clients. There has been a frenzy of speculative media activity around the latest victim, Park Row, and its negotiations to find a suitable home for its 240 advisers. For customers of Park Row, the collapse of the deal with 2plan has probably left many wondering where their investments are, and who is looking after them. This is not at all reassuring when many might have only just started to glimpse positive returns following the collapse of the markets. Never has size mattered more to so many p...
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
