Financial adviser who preyed on the bereaved jailed for £85k theft

Laura Miller
clock

A financial adviser has been jailed for five years for stealing a total of £85,000 from his victims in a theft campaign targeting the elderly and the recently bereaved.

Stewart Sermon, a self-employed financial adviser at B L Investments in Wigan, pleaded guilty at an earlier hearing to two counts of theft and a further count of theft was ordered to lie on file. The Crown Prosecution Service said he deliberately targeted victims who had either recently lost a spouse or had no close relatives. Sermon was previously an adviser at the Burns Anderson network, part of Honister Capital which was put into administration in July 2012 and declared in default last year. He had also worked as an adviser for Barclays Financial Planning, Barclays Bank's advice...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Adviser / Broking

Industry Voice: Key adviser challenges in 2023

Industry Voice: Key adviser challenges in 2023

Gillian Hepburn
clock 28 February 2023 • 5 min read

IFA leaves Intrinsic over pressure to go restricted

An IFA has left network Intrinsic after he felt he was being nudged towards adopting a restricted proposition following its takeover by Old Mutual.

Carmen Reichman
clock 07 August 2014 •

First major Keydata lawsuit filed against US brokerage

The first significant lawsuit from the Keydata scandal has been issued against US-based brokerage CRT Capital, according to the Financial Times.

Professional Adviser
clock 30 July 2014 •
Trustpilot