Jordan Financial Planning founder Mike Jordan says he is making the move, which means he will be notified if an attempt is made to sell the house, due to concerns that Kilminster may not return from the US, where he is on a five-week holiday.
Jordan says he is owed £82,000 from Kilminster. He says: “It is worrying when someone gets taken to court for £190k and does not show up in person for the case.
“I asked my solicitor to take this action because I do not want to end up regretting the decision not to put a caution over his home in three months.”
The network Kilminster Financial Management is set to go into administration, with a creditors’ meeting scheduled for July 16 to appoint a liquidator.
A number of shareholders and ex-advisers are looking at taking legal action against Kilminster.
Jordan says: “Looking at what he owes our shareholders group, I would say that it is over £500,000. I would not be surprised if the whole ball park figure is over £1m.”
Kilminster was unavailable for comment.