Support services provider SimplyBiz is putting together a directory of its firms who will be able to take on former Honister Capital advisers.
Honister entered administration yesterday after failing to secure professional indemnity cover.
An email sent to all SimplyBiz members today by group compliance director Gary Kershaw says: “I am sure you can fully empathise with the very difficult situation which Honister Ris now find themselves as they are unable to either do any new business or receive payment on trail or pipeline cases.
“In order to offer some solutions, we are putting together a directory of existing SimplyBiz member firms who may be able to take on an ex-Honister Ri; either on a temporary or permanent basis. We will then introduce member firms to any suitable Ris currently looking for positions within a directly authorised firm.”
SimplyBiz chairman Ken Davy says: “We are well aware of SimplyBiz firms that are looking to expand and if we can help Honister advisers or firms to become authorised that bit sooner then it is beneficial for everybody.”
Earlier today, Aifa called on the FSA to do “all it can” to fast track authorisation applications from Honister Capital advisers.