Equal Partners has called in its solicitors in a bid to prevent former director Kevin Tooze moving its clients to his new firm Equity Partners.
Equal Partners company secretary William Starkey, husband of the company’s late managing director Vivienne Starkey, instructed his solicitors to act after being a sent a copy of a letter Tooze is mailing to clients.
Starkey believes Tooze’s letter is misleading as it says Tooze is “undergoing an office relocation” and does not make it clear he has started a separate, similarly named venture.
He has written to clients explaining this and reiterating that there is no association between Equal Partners and Equity Partners, urging investors to disregard any correspondence from Tooze.
Equal Partners struck a deal with Chelsea Investments Limited last month that will see CIL taking over the servicing of the firm’s client bank.
Tooze said last month he looked after the clients during Vivienne’s long illness and they should be given the choice of adviser. He declined to comment on the letter.