A former adviser at Dunedin Independent, which recently went into administration, has taken over its assets and client bank.
The Scottish IFA was bought by Swiss-based Helvetia Wealth for around £4m in 2010 but was put into liquidation in February. Clients faced losses of up to £6m after its structured products ran into severe problems with the credit crunch, the BBC reports. However, Beatha Wealth Management, run by Didier Slama, has now bought the client book, reported by The Herald to be between 7,000 and 15,000 people, from the liquidator. Slama was formerly a financial adviser at City Gate and, which was also bought by Helvetia, and he subsequently became a consultant at Dunedin. Beatha, an appoi...
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