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SimplyBiz looks to match-make ex-Honister advisers with members

by: IFAonline
  • 05/07/2012
  • 0
SimplyBiz looks to match-make ex-Honister advisers with members
IFA support provider SimplyBiz has received more than 90 expressions of interest from member firms keen on taking on advisers affected by the administration of adviser group Honister Capital.

The company had contacted businesses using its services to see if any would be interested in taking on one or more of Honister’s registered individuals (RIs) on a temporary or permanent basis.

It said a number of Honister advisers had initially contacted it with a view to moving to direct authorisation, but it warned this may take too long considering the advisers are currently without an income.

Honister Capital entered administration earlier this week after failing to secure sufficient professional indemnity insurance (PII) cover.

SimplyBiz is now putting together a directory of existing members who are interested in taking on an adviser, and will make an introduction once both parties have expressed an interest.

Meanwhile, the support provider has set up an online discussion forum for Honister members.

Matt Timmins, joint managing director of the SimplyBiz Group, said: “The Honister members are going through a very difficult time at the moment and we wanted to provide an independent forum through which they could discuss the problems they’re facing with advisers going through the same things.

“We won’t be contacting any of the advisers who use the forum, unless they expressly ask us to do so”.

The forum will be available from Thursday morning HERE.

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