PTFS chairman believed to have been suspended
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Mortgage Strategy understands that Personal Touch Financial Services’ chairman Martin Wilson has been suspended pending the result of an internal investigation.
It’s unclear what the suspension relates to but a source close to the firm says allegations of compliance irregularities are inaccurate.
The source tells Mortgage Strategy that the company had been in constant contact with the Financial Services Authority and is playing things by the book as it conducts its investigation.
Dev Malle, sales director at PTFS, says: “This is an internal matter and we can’t comment on it.”
The network recently filed its accounts at Companies House. Figures for 2008 show the firm made a profit before tax of £2.5m compared with £3m in 2007. Profits after tax were £1.8m, down from £2.2m in 2007. Meanwhile, turnover fell by 18% during the year to £73.7m.
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Readers' comments (2)
Danny Lovey | 23 Nov 2009 4:36 pm
All I will add to my previous support for Martin Wilson is that anybody who knows him knows he is a brokers broker and an honest man with integrity who has built up PTFS to the success it is. Martin is PTFS and if someone there is playing silly games then they would well be advised to appreciate that, otherwise they may find brokers old and maybe some of the new coming over as AR's voting with their feet.
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Anonymous | 24 Nov 2009 11:24 am
As many people will agree I am sure Martin Wilson is the co founder of ptfs and as such many look to him for strength and he way forward. Whatever Martin has done or not done will eventually come out in the wash. However the ptfs board need to remember if Martin comes back then expext the Karma to work! A few people will cisappear over night. This just appears to be a revenge attack on Martin and will damage ptfs reputation even if nothing is found to be wrong. The board should of kept this private. All the best Martin
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