Buckles acquires FOS dispute IFA Heather Moor & Edgecomb
15th June 2010
www.ifaonline.co.uk
Wales-based Buckles Independent Financial Advisors has acquired Wiltshire-based Heather Moor & Edgecomb Ltd in a deal funded by Buckles' parent company Sanlam UK. The principals in the business, Brian and Dolly Pickering, established the firm over 40 years ago and it now services more than 2,000 clients with about £100m of assets under advice.

Heather Moor & Edgecomb will retain management and offices but will gain three Buckles advisers who will move to Lyneham, Wiltshire.

"We are delighted Brian and Dolly have chosen to partner with Buckles to provide first class advice to their clients," Buckles executive chairman Nigel Speirs says.

"They have built a quality business over many years and, by introducing products of our graduate training programme, we will be building the adviser base at Lyneham."

Brian Pickering adds: "I am delighted we have partnered with Buckles. We are confident that the business and, more importantly, our clients will be in the best possible hands."

Heather Moor & Edgecomb hit the headlines in 2008 when the practice won a county court ruling against the FOS for charging it case fees even though consumer complaints against the company were rejected.

But hopes the decision could prove a landmark ruling for IFAs were quashed in June of that year when the FOS won an appeal in the High Court.

The FOS currently charges a minimum £500 case fee for dealing with client complaints regardless of the outcome. Firms are permitted three free cases per year.