After 7 years of continued operating losses, a buyout by a restricted financial adviser firm, Towry could mark the end of a long and rocky road for the Axa subsidiary firm.
A source close to the situation suggested to FTAdviser that Axa had pulled its funding because it was “sick of not making any money”.
This means that if you are a Bluefin client, your portfolio of investments is likely to be ‘encouraged’ into the restricted investment portfolios offered by Towry – a far cry form the grand claims of Bluefin that they were independent! No doubt, the FCS will be keen to check if there is any ‘shoe-horning’ going on.
If you are a Bluefin client and want to ensure your investment advice remains independent in the future, please don’t hesitate to get in touch. Many of our clients have come to us form such national advisers and have been relieved to find the local, independent and personal service offered by us at Create Wealth management Ltd.