View more on these topics

Fundsmith’s Terry Smith reaches last minute settlement in Barclays dispute


Fundsmith founder Terry Smith has reached a settlement in his dispute with Barclays, whereby he argued the bank cost him £220,000 in lost investment returns by taking almost three years to make a money transfer.

The dispute was set to go to trial today, but an out of court settlement has been reached.

Smith says he asked Barclays in September 2012 to transfer £330,000 from his company Aethelflaed Investments that he intended to use to invest in the Fundsmith fund.

Smith said he tried to email and telephone the bank to transfer the money but was told he had to go into the Hounslow branch to make the transfer.

Smith calculated the difference in the unit price of the fund between September 2012 and July 2015 when he bought the fund, in which time it had risen by 166 per cent.

A Barclays spokesperson says: “This matter has been settled on terms confidential to both parties.”

A spokesperson for Smith refused to comment on the settlement.


FCA interior logo 620x430

FCA complaints rocket after Lloyds deal

Complaints agains the FCA rocketed to 154 in February, more than triple the number of the previous month. The number of complaints compared to 48 in January and 30 in December. From 1 December 2014 and 30 November 2015 the FCA received 491 complaints against them. The rise in complaints about the regulator in February was due to […]

Best Network: Sense

Sense was named Best Network in what is always a hotly contested category. Last year’s highly commended alongside Best Practice, this year Sense edged it for its focus on driving professional standards. Judges were impressed by its selective approach to recruiting members, and for “not allowing growth to get in the way of quality”. The […]


MPs to demand Phillip Green pays £600m into BHS pension scheme

MPs holding an inquiry into the collapse of retailer BHS are set to ask former owner Sir Phillip Green to pay up to £600m to help close the pension scheme deficit. According to the FT, Work and Pensions committee chair Frank Field said MPs would “laugh” if Green offered to pay anything less. Field estimates […]

Guide cover

Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them


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 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