View more on these topics

Coulson case is settled out of court

The bitter six-month legal dispute between Openwork and Zurich against Home of Choice and its director Richard Coulson has been settled out of court.

The terms of the settlement have not been revealed but both Home of Choice directors Richard Coulson and Gerry O’Brien and rivals Zurich/Openwork stress it is now business as usual.

Coulson and O’Brien had faced a number of allega- tions against them, including acting in breach of res- trictive covenants.

The two companies now say they are aiming to focus on strengthening their businesses and increasing member numbers.

Home of Choice says in the six months since it was set up, it has recruited 500 appoin- ted representatives and 600 directly authorised members. It hopes to double these figures to over 2,000 total member over the next 12 months and claims that it has rec- ruited only 12 former Openwork franchisees.

Openwork says it has 2,300 franchisees, with 80 per cent licensed to sell mortgage business.

The company is aiming for 12bn lending a year and is setting a target to have a total of 3,000 members by the end of next year.

Coulson says: “It is not a case of going back to business as business never stopped. Our single-minded focus will be attractive to many mortgage introducers who are unsure of where their interests will be best served. We are wholly committed to focusing on the mortgage market.”

A Zurich spokeswoman says: “We are consistently hitting record numbers of mortgage business month on month and anticipate continuing this in 2006.”

Recommended

TUC offers day in a life of Pensions Minister

The TUC has launched an interactive website claiming to offer users a glimpse of a day in the life of a Pensions Minister, in the run up to the Turner Reports publication.The site asks what the TUC suggests are the ten big questions facing the Government on the future of pensions. These include issues such […]

Correspondent’s week

This week by freelance personal finance journalist and author Sam Downes

Mission impossible on forecasts

Like most IFAs, I read with weariness and despair of the next huge increase to our Financial Services Compensation Scheme levies expected next year, not least because we all know exactly why this is going to happen and who is responsible for it. It is, of course, the FSA that has forced life companies to […]

How to use wills to protect your clients’ wishes

March was Free Wills Month! Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their simple wills written or updated free of charge by using participating solicitors in selected locations around England and Wales. Research by the Law Society* highlighted that only 64 […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com