Ongoing service
Every client paying an ongoing fee, and whether the review they paid for actually happened. Sorted by how long they have been waiting, because that is the order the liability accrues in.
On ongoing service
2,100
£480m under advice
Reviewed inside 12 months
1,788
85.1% of the book
Review overdue
312
14 months or more
Fees on those, a year
£512,400
and they have waited 14–26 months
This is not lost revenue. It is revenue that may have to go back. An ongoing fee is charged for a
service the client was told they would receive. Where the review did not happen, the fee is refundable — typically with 8% simple
interest a year from the date each fee was taken, and with the firm carrying the cost of proving which
reviews did take place — which in practice means paying a compliance consultant to reconstruct years of files that were never indexed. The 312 clients below have
paid for between 14 and 26 months of a service nobody delivered.
Clients whose review is overdue
Longest first · 312 clients · showing 6
| Client | Office | Adviser | Funds | Fee | Fee p.a. | Overdue | Status |
|---|---|---|---|---|---|---|---|
| Mr & Mrs D Okonjo | Harrogate | J Rennard | £412,000 | 0.70% | £2,884 | 26 mo | Never reviewed |
| Dr P Aylward | Leeds | J Rennard | £286,400 | 0.75% | £2,148 | 22 mo | Overdue |
| Mrs G Tewkesbury | York | A Fenwick | £515,200 | 0.65% | £3,349 | 19 mo | Overdue |
| Mr S Brathwaite | Harrogate | A Fenwick | £198,600 | 0.75% | £1,490 | 17 mo | Overdue |
| Mr & Mrs L Kyriakou | Leeds | M Sandhu | £340,100 | 0.70% | £2,381 | 15 mo | Overdue |
| Ms R Achebe | Harrogate | M Sandhu | £162,900 | 0.75% | £1,222 | 14 mo | Overdue |
Showing 6 of 312 · every row here is a refund calculation waiting to be done
About to cross the line
Reviewed 10 to 12 months ago · not overdue yet, and the only cohort that can still be saved for nothing
96 clients
The 312 were all in this cohort once. A review booked at ten months costs a phone call; the
same review at fifteen costs the fee back with interest and a file explaining why it slipped. This is the
only screen on which the problem is still free to fix, which is why the clock starts here rather than at the
breach.
Fees a year on the 96£158,000
Already booked54 of 96
No contact attempted28
Exposure by adviser
Where the overdue reviews actually sit
| Adviser | Clients | Reviewed | Overdue | Rate | Fees at risk | Status |
|---|---|---|---|---|---|---|
| J Rennard | 214 | 178 | 36 | 83.2% | £59,100 | Highest exposure |
| A Fenwick | 186 | 159 | 27 | 85.5% | £44,600 | Behind |
| M Sandhu | 171 | 148 | 23 | 86.5% | £37,200 | Behind |
| C Ellwood | 198 | 184 | 14 | 92.9% | £21,900 | Within tolerance |
| T Oyelaran | 163 | 159 | 4 | 97.5% | £6,300 | On track |
Showing the 5 highest of 18 advisers · one carries 36 of the 312, which is a supervision conversation rather than a spreadsheet