A financial adviser has been jailed for five years for stealing a total of £85,000 from his victims in a theft campaign targeting the elderly and the recently bereaved.
The Financial Services Compensation Scheme (FSCS) has compensated investors to the tune of £960,000 over the failure of Honister Capital.
Honister Capital administrator Grant Thornton has sold its advisers' commissions to a corporate advice firm, with some IFAs forced to pay more than 50% of commissions to novate clients to another firm.
Skandia is to facilitate bulk transfers of business for ex-Honister advisers who have been reauthorised under a new firm.
The Association of Independent Financial Advisers (AIFA) has criticised the FSA's handling of the administration of Honister Capital.
Advisers have spoken of their frustration at the handling of the administration of Honister Capital.
Financial advisory group Honister Capital has entered administration after failing to secure professional indemnity insurance (PII) for its member firms.
Honister Capital, the private investment company which owns two networks and a national IFA, is to roll out a new charging proposition for firms.
A former Burns-Anderson appointed representative jailed in April for defrauding clients out of more than £7m is set to return to court to be stripped of his assets.
Honister Capital is considering offering an "unbundled" support package to its group companies as part of a proposition re-think ahead of the RDR.