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Honister reassures investors over liability costs

Honister Capital has reassured investors that it will be able to meet its liability costs during the coming year.

In a solvency statement filed to Companies House, Honister Capital reassured investors over its ability to repay any costs associated with its liabilities during 2012.

A statement issued by directors says: “As regards the company’s situation as at the date of this statement, there is no ground on which the company could be found to be unable to pay (or otherwise discharge) its debts. The company will be able to pay (or otherwise discharge) its debts as they fall due during the year immediately following the date of this statement.”

Honister has also announced chief financial officer Bryan Levine has stepped down as a director of the company due to a long-term illness.

Although Levine remains the official CFO, Colman Moher has been a temporary replacement in the role since late 2010.

Honister chief executive Richard Pearson (pictured) says: “Bryan Levine has been off work due to long-term sickness since late 2010. He stepped down as a director of the company in December but remains an employee.”

In September last year, Honister announced it was revising its charging model which, from Q1 this year, sees a new charging structure based on a combination of fixed and variable fees. The fixed charges will include regulatory costs and a charge for core services, while the variable fees will take into account the income generated by the adviser firm and the services used.

In November, Money Marketing reported that Paradigm Partners founder Paul Hogarth was looking to make a bid for Honister’s advisory businesses Honister Partners, Burns-Anderson and Sage Financial Services.


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