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Burns Anderson to take on ‘orphan’ clients

Honister Capital is planning to expand the small employed arm of Burns Anderson to take over the clients and assets left behind by retiring Honister advisers.

Speaking to Money Marketing at the Honister Capital annual conference in Brighton last week, the company’s chief operating officer Richard Pearson says that he expects 9 per cent of the 970 Honister group IFAs will either retire, become introducers or focus on protection business by the December 2012 RDR deadline.

Chief executive Mark Lund says Honister will expand Burns Anderson’s employed arm from nine advisers to 50 to serve these clients.

He said: “We will grow our employed advisory business to capture the clients and assets under management as advisers retire because we do not want business to go out of the group.”

Managing director of advisory business Frank Gorrie says Honister intends to develop a training programme to encourage new talent to join the industry.

He said: “We will be pulling together a training programme that gets people into the initial stages of offering advice, probably in an Icob environment to start with, sponsoring them to be qualified in mortgages and then moving towards the QCF level four qualification.

“If we do not do something, the average adviser age is just going to get a year older each year.”


Liontrust CFO takes 18% basic pay cut

The chief financial and operating officer of Liontrust Asset Management has agreed to a basic pay cut of 18 per cent following a difficult period for the firm. Vinay Abrol has volunteered to reduce his base pay by £56,000 to £250,000 after Liontrust reported losses and outflows. The company has appointed a new chief executive […]

Latest MMR paper should be welcomed by brokers

Much of the latest mortgage market review consultation paper on distribution and disclosure is sensible and broker-friendly. The proposals should lead to increased professionalism and competence across the industry. Everyone selling mortgages will be required to have an appropriate mortgage qualification, which will create a level playing field between lenders and intermediaries. It will drive […]


Government delays universal state pension paper

The Government’s green paper outlining proposals for a universal, flat-rate state pension has been delayed. In October, the Government announced plans to introduce a universal pension and said a green paper would be unveiled this year. However, the Department for Work and Pensions will now not commit to a publication date. A DWP spokeswoman says […]

Bruce Wilson to step down as Helm Godfrey managing director

Bruce Wilson is stepping down as Helm Godfrey managing director in January 2011 to concentrate on financial planning service Project Eve. This week’s Money Marketing reveals he will still advise at the firm but will spend most of his time on Project Eve, which he co-founded to promote George Kinder’s life planning concept to lower-income […]


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