Harwood Wealth puts 100-strong adviser network into administration

UK-based Harwood Wealth has confirmed it is putting Network Direct, a group of financial advisers, into administration, leaving the future of around 100 IFAs in the balance. Network Direct Ltd, which is based in Wolverhampton, England, went into adminstration on Monday 23 November, the company announced. Harwood Wealth acquired the network in 2016 in a deal worth £4m. At the time the Network had some £3bn in AuA. Earlier this week Adviser Service Holdings confirmed it has already acquired the so-called "future trade" of Network Direct. Michael Couzens, CEO of Adviser Services, said...