An elderly man taken ill in New Zealand is struggling to pay for medical treatment because his money is caught up in the Towry transfer debacle.
Standard Life says only a third of its Towry transfers have been completed and has lambasted the wealth adviser over a catalogue of errors in its transferral process.
Ascentric is continuing to wait for the transfer of £50m of Towry assets belonging to former Edward Jones clients as the FSA starts looking into the ongoing debacle.
The ongoing Towry transfer debacle is no closer to resolution because the wealth adviser is not completing its part of the re-registration process, platform Transact says.
Fee-based wealth adviser Towry today announces a 60% jump in H1 revenues compared with the first half of last year.
Transact has welcomed Towry's claim to have sorted out the transfer delays of former Edward Jones clients, but warns the saga has yet to be "put to bed".
Ascentric has signalled the "beginning of the end" of the ongoing Towry transfer delays and is confident the problem will be resolved in a matter of weeks.
Ascentric says delays in the transfer of £75m worth of Towry assets on to the platform are costing it £15,000 per month, as a dedicated team battles to sort out the "extraordinary" and "embarrassing" problem.
Good on Towry Law for fighting back, says Bradbury Hamilton MD Sheriar Bradbury...
Towry Law has been granted an interim injunction against six former Edward Jones advisers accused of soliciting its clients.