Carrington Carr Home Finance is currently an appointed representative of Legal & General and went into administration on 20 March 2012.
Four days prior to going into administration however, Townsend became a CF1 Director for Intrinsic Mortgage Planning and two days following administration Francis too became a CF1 Director for Intrinsic.
As CF1 Directors for Intrinsic, Townsend and Francis will be able to act as authorised individuals of AR firm Platinum Life Solutions, a company which is registered at the same address as Carrington Carr Holdings.
Platinum Life Solutions was incorporated on 20 September 2009, however its effective date is listed as 23 February 2012 on the Financial Services Authority register less than a month when Carrington Carr Home Finance was placed into administration.
Another copmany at the same address, Platinum Home Finance was incorporated on 1 February 2012.
Platinum Life Solutions now brings over to Intrinsic around 40 advisers that are a part of the Carrington Carr Group.
Andrew Townsend, managing director of Platinum Life Solutions, said: “We are delighted to be joining Intrinsic, a business with like-minded people and a real focus on driving growth.
“The move marks an exciting new phase for Carrington Carr and our advisers and means we can continue to provide an excellent service to all of our customers.”
Steve Fryett, sales director at Intrinsic Financial Services, said: “Platinum Life Solutions is a well-run, professional business with real plans for the future; all it requires is a network that matches its ambitions. We look forward to working with the management team and advisers over the coming years.”
Legal & General declined to comment while Carrington Carr Home Finance was still in administration.