Smith & Williamson loses case: good news for clients?
Tough week for Smith & Williamson as its insolvency guru Tony Murphy lost in the High Court over the controversial Powerhouse case, which threatened to bring down the property industry (so the property industry said).
One party involved in the case commented to TS that S&W is extremely strong in wealth management, and no doubt many clients have been recommended to make property investments as part of a rounded portfolio. So S&W might have felt itself a little conflicted during the case. S&W’s clients might have felt a lot worse if the courts decided in favour of the trusted financial advisers.