Crosby Capital begins to settle Forsyth's $6.4m outstanding trail

Forsyth Partners had $6.4m of unpaid trail and sales commission on its books when it called in admini...

Forsyth Partners had $6.4m of unpaid trail and sales commission on its books when it called in administrators in September. Administrator Grant Thornton said the $6.4m is an aggregate of trail and sales commission owed to various parties including IFAs. Crosby Capital Partners bought the rights to manage Forsyth’s fund range and has taken on the pile of unpaid trail. Although the new owners are not legally obliged to take on Forsyth’s liabilities, Crosby said it is beginning to settle some of the outstanding trail. Steve Fletcher, Crosby’s chief operating officer, said: “When we complete...