downtrodden FHFput into administration

Fyshe Horton Finney Stockbrokers and DFM has voluntarily entered the Special Administration Regime (SAR), the FSA has confirmed.

downtrodden FHFput into administration


The firm, which has 15 regional offices, has been plagued by escalating costs and losses of £3.4m since 2009.

In 2010 it took on a number of former Edward Jones advisers, and opened six new franchised offices. However, the following year the firm was forced to make a number of redundancies at its Leeds office.

Further indications of the firm’s difficulties came in January this year, when three executives stepped down. Chief executive Hardeep Tamana, director Clive Duckitt, and regional director Sue Grieson all left the company.

A company spokesperson declined to comment on the situation although reports said it may be temporary.

The SAR came into effect in February 2011 and this is the fourth time the SAR has been initiated by the FSA.




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