Honister administrators Grant Thornton have written to former Honister advisers reminding them of their duty to return all client files.
Honister entered administration last week after failing to secure professional indemnity insurance. Grant Thornton was appointed as administrator for the group which includes advisory firms Burns Anderson, Sage Financial and Honister Partners.
A letter, sent out on Friday, confirms Honister advisers are no longer allowed to trade and that any files relating to clients may be needed by the administrators for future claims.
The letter says: “You maybe in possession of client records that belong to the companies. If that is the case please ensure that all client files are returned to the companies. We may require all client records to deal with future claims, failure to return these records may be recalled in any future references.”
Many advisers expressed anger last week on the Money Marketing website after they saw trail and pipeline commission was frozen as a result of Honister entering administration with monthly payments due last week not made.
Honister has retained a small team who are dealing with references for advisers looking to move elsewhere, this is available on the helpline 01482 385385.