Berkeley Alexander offers interim helping hand to honister members

Monday 1st October 2012

4th July 2012:Following yesterday’s announcement thatHonister Capital Limited, a leading financial advisory group, has moved into administration, Berkeley Alexander has announced interim arrangements to aid those members ofHonisterwho may have insurance arrangements in the pipeline. Berkeley Alexander’s Managing Director, Geoff Hall, says:-

“We have provided general insurance services to the members of Burns Anderson since the FSA started regulating general insurance back in 2005 and the members of Bates, Sage and the remainingHonister group members since 2007. Those members are now in a difficult position in a number of ways, not least that they may have provided their clients with a quote for insurance but cannot now fulfill that quote.”

“For anyHonistermember who finds themselves in a situation where a client needs help on their insurance polices (whether that by buildings & contents, residential buy to let, ASU or some form of commercial policy), we are pleased to provide a short term solution until the member has found a new home. They can simply contact us with their client’s name and contact phone number and we will look after their client, ensuring they receive the cover they need. Once the introducer has found a new home, we can move the policy to the agency under the new firm.”

Berkeley Alexander warns that under FSA rules the act of introducing is a regulated activity and any introducer should beauthorised. However where the introduction is made for altruistic purposes only and for no financial gain, the introduction is non-regulated. This means commission cannot be paid on the initial introduction until the firm isauthorised(or has been made an appointed representative to anauthorisedfirm). In addition the over-riding principle of Treating Customers Fairly (TCF) applies and to leave an adviser’s client without the route to arrange cover when it is needed would be against all TCF principles.

For further information, please contact Kelly Prior at Spotlight Communications 07730 572878 or email kelly@spotlightcomms.co.uk

About Berkeley Alexander Ltd:

Berkeley Alexander Ltd, a general insurance wholesaler, offers IFAs and mortgage brokers a wide range of personal and commercial lines of insurance.  Drawing on a number of insurers, it is known for its comprehensive range of competitive, innovative products.  Berkeley Alexander Ltd is part of Cullum Capital Ventures.

About Cullum Capital Ventures:

Cullum Capital Ventures (CCV) is one of the UK’s largest independently owned insurance intermediaries with more than 800 staff.  Headquartered in Maidstone, it offers a wide range of general insurance products nationwide.

For regional brokers looking to sell their business, CCV can provide flexible full or partial ownership solutions. Businesses can continue to trade under their own brand, while CCV is committed to providing full support across all management functions.