Robbie Savage and Andrew Cole among claimants suing over payments please log in to view this image Image copyrightBBC/BBC/PA Image caption(Left to right) Robbie Savage, Danny Murphy and Andrew Cole Robbie Savage, Danny Murphy and Andrew Cole are among more than a dozen former footballers suing an asset management firm over payments to agents. The High Court heard evidence that the 16 players asked their agents to recommend a financial adviser. They were put in touch with Formation Asset Management Ltd which then gave them advice on a number of investments. They paid commission for this, but they were not told the money would be shared with the agents, the court was told. Their claims are being challenged, Mr Justice Morgan said. The 17 claimants are former footballers and one financial advisor: Andrew Cole - Newcastle, Manchester United John Curtis - Manchester United, Nottingham Forest Sean Davis - Fulham, Portsmouth Robbie Elliott - Newcastle, Bolton Shaka Hislop - Newcastle, West Ham Stephen Hughes - Arsenal, Coventry Denis Irwin - Manchester United Tommy Johnson - Notts County, Aston Villa Zat Knight - Fulham, Bolton Danny Murphy - Liverpool, Fulham, now a BBC pundit Ian Pearce - Blackburn, West Ham Robbie Savage - Leicester, Derby, now a BBC pundit Jonathan Short - Derby, Blackburn Jamie Smith - Crystal Palace Gary Teale - Wigan Tony Vidmar - Rangers David Carr - Financial advisor https://www.bbc.com/news/uk-england-tyne-46274098
IF these Agents have given financial advice I would have thought that they would come under FCA Regulations and it would be for the agents to advise their Clients about any commission arrangements. In any event who do they think has ripped them off. The Asset Mamagement company who told them about the commission they would be charged or their own agents who told them nothing. I do however wonder why they would get this sort of advice through their Agents, a body where professional qualifications seems not to be a requirement. Don't they have Accountants or Solicitors who, whatever we may think of them, are at least bound by strict professional standards.
Accountants, solicitors -or their bank ? If they can’t think that for themselves , just shows how bright a lot of them are, and how easy it must be for the agents to lead them
