Pension Adviser Loses £200K Fee Fight With Aviva

Law360, London (January 8, 2020, 3:35 PM GMT) -- A financial adviser is out of pocket by £200,000 ($260,000) after a judge ruled Wednesday that he cannot recoup allegedly unpaid fees from insurer Aviva PLC after one of his clients dropped his business.

High Court Judge Mark Halliwell dismissed Richard Wales' legal fight in which he was demanding that the insurer return allegedly outstanding and unpaid fees in connection with advice he gave to a property management company to help it obtain pensions.

Wales earned commissions on premiums that the company, CBRE Managed Services Ltd., paid to Aviva, which issued its employees' pensions. He was forced to return money advanced...

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