PosSol writing to partners' clients affected by business review
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Positive Solutions is contacting clients of partners affected by the past business review that KPMG has been conducting at the firm.
The firm says it is only contacting a limited number of clients and that advisers have been informed.
However, PosSol will not disclose the nature of the client communications.
Money Marketing has seen recent correspondence from PosSol to one adviser asking how he wants to pay the redress - totalling almost £5,000 - which it says is owed as a result of a “past business review”.
But a PosSol spokeswoman says this does not relate to the KPMG probe.
PosSol says 110 members left between December 2009 and the end of June 2010 although this number excludes advisers who are still working their notice period. It says 80 new members have joined during this period.
Chief executive Jim Reeve (pictured) says: “Our business review is important as we build a strong and high quality business for the future.
“We are committed to ensuring consistently high standards of advice to our clients. We are working closely with partners and keeping them informed at all stages.
“Most of our partners recognise how valuable this piece of work is and are supportive of what we are doing in building a stronger governance and compliance framework.”
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