InvestmentsNov 12 2015

Claims manager rebuts ‘conflict of interest’

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Claims manager rebuts ‘conflict of interest’

Rebus Investments has denied there is a “conflict of interest” in employing a former employee of film scheme promoters Scion Financial Partners.

Claims handling firm Rebus is currently representing a number of clients suing their financial advisers over recommendations to invest in a particular film scheme run by Scion.

According to documents from Companies House, Martin Taylor, head of client relations at Rebus, was registered as a company director for Scion Financial Partners Ltd for eight years prior to his appointment at Rebus in 2012.

Mr Taylor’s involvement with Rebus has angered an adviser who endorsed a particular Scion film scheme as a good opportunity for investment and is now being pursued for compensation by disappointed investors.

Speaking to FTAdviser, an IFA who is being pursued for compensation by Rebus and wished to remain anonymous, said: “Martin Taylor went round with the IFAs and sold the scheme. Now he is at Rebus, the company offering to represent them in suing advisers.

“Essentially, the man who profited substantially from the sale of the investment is now representing the company trying to sue IFAs for selling the product.”

Michael Kamine, chief executive of Rebus Group, said: “While at Scion Financial Partners, Martin was involved in business development, sales and marketing.

“He spent his time liaising with the independent financial advisers, wealth managers and such like. These were the people with responsibility for providing suitable advice for the client.

“Martin’s role here at Rebus focuses on client relationship management. If a client came to us with Scion products, they would automatically be routed through to a different client relationship manager.”

When contacted by FTAdviser, Mr Taylor added: “I don’t have anything to do with Scion products. My colleague deals with that. It is a system that we’ve had in place since I arrived.”

Scion could not be reached for comment prior to the publication of this article.