Ex-finance writer under investigation

Continued from page 1 strategist’’, boasting the firm had ‘‘access to the whole marketplace of investment product’’.

The 2010 website said SPG provided ‘‘specialist advice to those individuals who hold significant investment portfolios’’.

Sunday Star-Times understands the FMA complaint was made by a client with a seven-figure sum invested.

It said SPG portfolios were based on a core/satellite approach – ‘‘that is, you will have an exposure to a core fund where regular savings could be directed . . . and a range of satellite investments which might include direct shares, holdings in private enterprise companies, investment property, currency investments, one-off capital protected investments and fixed interest options. It is these satellite investments that will create the most wealth over time’’.

Robinson operated by using the Prospero client portfolio administration system provided by Grosvenor Financial Services.

Grosvenor’s David Beattie told Sunday Star-Times Grosvenor had cancelled Robinson’s agency with Grosvenor and was in the process of helping people with portfolios on Prospero to find new advisers.

Beattie said clients had been contacting Grosvenor for some months towards the end of last year unable to contact Robinson.

‘‘He had been difficult to get hold of and a number of clients were ringing us directly when they couldn’t get hold of him,’’ Beattie said.

‘‘We were aware he went over to the UK to look after his ill mother,’’ Beattie said.