View more on these topics

Ex-Honister adviser jailed for £380k fraud

A former Honister adviser has been jailed for two years and nine months at Winchester Crown Court for a £380,000 fraud.

The Salisbury Journal reports former Honister Partners adviser Angus McClymont pleaded guilty to 14 counts of fraud by abuse of position between 2008 and 2011.

The court was told many of the victims were of early retirement age. It also heard £300,000 of the money stolen was still outstanding.

The prosecution said: “Some of the victims were existing clients he had given honest advice to, others were referrals and some were obtained through cold calling. As well as acting as a financial adviser, he would offer to invest their money for them.”

The defence told the court McClymont had been going through a difficult period of his marriage and his child had suffered from health problems.

Sentencing McClymont, Recorder Andrew Barnett said: “This is an appalling case of confidence fraud where you as a financial adviser behaved in a thoroughly dishonest way.

“You should be utterly ashamed, you ruined people’s lives I have no doubt. You have put back a certain amount but I understand there is still £300,000 outstanding, which is an awful lot of money.”


Peter Vicary-Smith MM blog

Which?: Ridiculous to suggest axing free banking will stop misselling

Over recent weeks we have heard too many senior bankers and regulators saying that if the banks charge a monthly fee for current accounts this will prevent the misselling scandals of the past. This suggestion is completely ridiculous and a damning indictment of the current culture of the banking industry.  Consumers should not be forced to pay […]

Principality BS reduces interest-only rates

Principality Building Society has reduced rates on all three of its interest-only products. Three-year discounts are being offered on the 50 per cent, 75 per cent and 85 per cent LTV products. A rate of 3.39 per cent is now available on the 50 per cent LTV product, down from 3.59 per cent previously. A […]


The myth of ‘the myth of free banking’

I was genuinely astonished to read that Which? had “shattered the myth” of free banking. Not because the research the consumer body published earlier this week contains any new information or revelations. I just do not think this myth exists. There is certainly little in the headline claims from Which? about overdraft charges that the […]

Standard Life to provide Travis Perkins master trust scheme

Travis Perkins Group has appointed Standard Life to provide a master trust scheme for its 25,000 employees in advance of its 2013 auto-enrolment staging date. Standard Life was chosen to provide the scheme after the builders merchant held a tender, review and consultation process. The scheme will bring together employees’ contract and trust -based pension […]


News and expert analysis straight to your inbox

Sign up


There are 4 comments at the moment, we would love to hear your opinion too.

  1. Where is the integrity! May be the family issues were also caused by a lack of honesty and trust.
    Certainly he is a very selfish individual.

  2. Now you might understand why Honister couldn’t get PII cover and had to close. How many other skeletons are in this cupboard?

  3. What the article doesn’t say is that he also ripped his (now ex) wife off to the tune of £46k too. AND he has the cheek to try to foist the blame on to “family problems”

  4. And he is still listed on the FSA website?????

Leave a comment


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