One of the UK's best-known financial advisers Ivan Massow is returning to business as an IFA with the relaunch of his firm as Felix Financial.
The six-RI firm is operating from London offices as part of Bristol-based IFA network the Falcon Group.
Massow's previous IFA business, Ivan Massow IFA, was part of South Wales network Interlink which collapsed in March.
Massow is retraining as an IFA after five years away from advising. He is taking exams and hopes to be working with clients again shortly.
Felix Financial does mortgage business but intends to shift emphasis to investment and look at other areas.
Half of the business has been tied to the Zurich Advice Network as Ivan Massow Consulting doing predominantly mortgage and protection business but this arrangement has been ended.
Massow says he is in private discussions with ZAN.
Massow merged his IFA business into Rainbow Finance in 2001 to form the Rainbow Group, a financial consultancy and IFA. But the firm collapsed within 12 months and was put into receivership. Massow has bought back the goodwill of the firm.
Massow Rainbow was declared in default by the Financial Services Compensation Scheme last week.
Massow says: “We cancelled our arrangement with ZAN and now we are speaking to them privately. I am going to be an adviser again after five years and work as a fully trained IFA for Felix Financial.”