View more on these topics

Standard Life agrees to Honister bulk transfers

Standard Life is accepting bulk transfers of clients from ex-Honister advisers who are in the process of being reauthorised with a new network or firm.

Standard Life says it will accept transfers without requiring the consent of Honister administrator Grant Thornton when given instructions by an adviser or their new firm, as long as the transfer does not breach any contractual agreement with Honister.

Standard Life industry relationship director Don Wild says: “Ultimately all clients must be transferred or find new advisers if they are to continue to receive financial advice.

“We want to make the process of moving with their adviser as easy as possible. We believe this is in the best interests of treating customers fairly as it will enable advisers to resume their service to them with minimum disruption.”

Standard has given advisers an initial 60-day period to make contact and give instructions for bulk transfers.

Honister entered administration earlier this month after failing to secure professional indemnity cover, leaving around 900 advisers unable to give authorised advice.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com