A band of 28 ex-Park Row advisers will next week begin legal proceedings against their former employer, claiming thousands of pounds in compensation for loss of earnings.
Insurer Royal Liver has put a possible takeover deal by Royal London on the table to members at the Groups' AGM.
The finance director of Royal Liver Assurance (RLA) was sacked over claims he made unauthorised payments worth millions to an advisory business run by a former colleague.
Financial advice firms are being urged to revisit their business checking procedures in the wake of the public censure and £7.8m customer redress ruling at IFA Park Row.
Ongoing concerns about the amount of unsuitable pension advice written at Leeds-based IFA Park Row were at the heart of FSA action against the company.
Censured IFA Park Row reduced the number of cases it checked for compliance in 2008, despite multiple warnings from the FSA.
Park Row must redress customers up to £7.8m for failing to ensure its sales were suitable, the FSA has announced.
Some of you will have followed the trials and tribulations of Park Row over the last month or two. Park Row Associates is being wound up, and will be closed for business by the time this article is published.
All national IFA Park Row's 240 advisers have now left the company, which has begun its planned solvent wind-down.
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.