View more on these topics

Forsyth Partners Ltd goes into administration

Forsyth Partners Ltd and Forsyth Partners (Europe) have both been placed under administration.

David Dunckley and Steve Akers of Grant Thornton have been called in and will look to broker a quick sale for the fund of funds investment manager, which has some £600m assets under management.

A spokesman for the firm said that the funds are safe, however no trading will take place in the interim.

Last week, the group confirmed that it was in discussions with a number of interested parties which could lead to an offer for the business.

OBSR director Richard Romer-Lee says the independent research firm is saddened by the news, but says that its rating agency Forsyth-OBSR is a seperate company and the group does not anticipate any changes.

He says: “We have been aware of ongoing discussions regarding FPL and are saddened by the fact the Company is now in administration. However, we do not anticipate any disruption to the level of service provided by FOBSR.

“OBSR is committed to doing what is necessary to safeguard the integrity, quality and independence of the Ratings Service.

“We are in dialogue with FPL and the Administrator and will keep all clients and supporters informed of further developments relating to FOBSR. 

“For the sake of clarity, OBSR is independent of the Forsyth Group of Companies.”


Top up the toolbox

For many years, it has been accepted industry practice for life companies to provide specialist technical resources to advisers. There could now be serious implications, with the High Court ordering Scottish Equitable to compensate a client because its repre-sentative was present at the time when advice was given.

Pearl hit for six by role reversal

As the Twenty20 Cricket World Cup kicks off this week, Resolution and Friends Provident pulled off a masterstroke of their own by hitting potential rivals Pearl for six as they continue to fend off those bidding to derail the creation of Friends Financial plc.

FSA fines mortgage firm and chief over selling failures

The FSA has fined Hadenglen Home Finance and its chief executive Richard Hayes for failures in selling payment protection insurance and remortgages.The firm, based in Ashby de la Zouch, Leicestershire, has been fined 133,000 and Hayes has been ordered to pay 49,000 over inadequate systems and controls when recommending remortgages and PPI to clients.This is […]


News and expert analysis straight to your inbox

Sign up


    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 thought leadership.

    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