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EXCLUSIVE: Carrington Carr directors open new firm

Former Carrington Carr Home Finance directors Ian Francis and Andrew Townsend have registered as CF1 Directors for Intrinsic Mortgage Planning under a new firm called Platinum Life Solutions.

Yuan Phoon, 4 April, 2012

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.

Your Comments
7 Comment(s)

KS wrote:

I hope the FSA look at this very closely as it was my understanding that they were against Phoenixing !!

Wednesday, April 04, 2012 4:38:16 PM GMT

Recommend? (6)

SC wrote:

Didn't the directors at Mortgage Times do much the same thing and got caught out by the FSA and Companies House?

Wednesday, April 04, 2012 5:16:20 PM GMT

Recommend? (3)

Anon 2 wrote:

Fairly Evident the AR network Intrinsic's application process needs looking at by the FSA. I was under the impression you had to be fit and proper?

Thursday, April 05, 2012 11:59:31 AM GMT

Recommend? (8)

Cm wrote:

How can they know they are fit and proper if they have never traded before? And if you put your business into administration to avoid creditors, are you really fit and proper?

Saturday, April 07, 2012 11:23:03 PM GMT

Recommend? (12)

Roger Pettit wrote:

Marathon has just changed its name to Snickers? Big fees?life time service? Discrediting existing lender? Big Fat Bob?

Monday, April 09, 2012 7:12:23 AM GMT

Recommend? (19)

crookswork4carringtoncarr wrote:

These guys will rebroker all the L+G policies sold under carringtoncarr and do a poop job of arranging clients projection- BUYER BEWARE

Tuesday, April 10, 2012 10:13:36 AM GMT

Recommend? (17)

Kim Bascombe wrote:

Intrinsic are more interested in the bottom line than Customer Service. The FSA MUST look into this before customers are ripped off again

Thursday, June 28, 2012 3:19:53 PM GMT

Recommend? (5)

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