View more on these topics

Police probe pension case

Police have launched a fraud investigation concerning for- mer Rowanmoor Pensions joint managing director David Seaton who died last year.

A probe is being carried out into allegations that the firm was defrauded of £1.6m between 2001 and 2005. Seaton’s body was found on a beach in Boscastle in Cornwall last September.

The police probe comes after Rowanmoor Pensions managing director Ian Hammond and the board conducted investigations into Seaton’s business activities. Hammond says: “This was reported to the police by the board and is now subject to police investigation. As a result, we are unable to discuss details of the case at this stage. We are confident this was a one-off issue and affects one client only.” He says Rowanmoor is fully restoring funds so there will be no loss to the client.

A spokesman for Wiltshire Police says: “We can confirm that we are investigating allegations of fraud and theft involving David Seaton. As enquiries are ongoing, it would not be app- ropriate to comment further at this stage.”

Rowanmoor administers Standard Life’s small self-administered schemes. A Standard spokesman says: “This investigation is not an issue for us. We checked before Christmas and none of these schemes is linked with this investigation.”


Towergate buys KB Rollitt

Towergate Financial has acquired Newark-based wealth management and financial planning firm KB Rollitt & Company Limited.

The death of retirement – a boost for protection?

According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20% of total wages, the statutory minimum for a new automatic […]


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