Churchill Investments director Chris Gilchrist has left the firm after a disagreement with fellow director Jamie Ware over the future direction of the business.
Gilchrist (pictured) set up Churchill in 1995 with Ware and Hargreaves Lansdown head of research Mark Dampier. Gilchrist says he and Ware had a difference over which fee structure to implement under adviser-charging. He wanted fee bands for different levels of service rather than a structure that allows individual advisers to set their own fee.
Gilchrist says: “We had some fundamental differences. I felt that fee bands should play a major part and that was not reflected in the final decision. I expect to stay within the industry but I do not think I will be in a face-to-face advice role.”
Ware says: “Chris has resigned from the firm and I wish him all the best for the future.”