Key Retirement Solutions and Annuity People have teamed up to offer support to appointed representatives (ARs) of Honister Capital.

This follows Honister Capital being put into administration yesterday.

Key Retirement Solutions and Annuity People say their move means Honister ARs can still place their annuity clients with a whole of market annuity solution.

The two organisations will work together to ensure a smooth flow of referred business to guarantee that both AR’s and their clients who are innocent in this process can be helped.

Dean Mirfin, group director of Key Retirement Solutions, said: “Clients who need to annuitise must not suffer as a result of today’s events which is why we have reacted quickly to work with Annuity People to ensure they are well looked after.”

Malcolm Thomas, managing director of Annuity People, said: “This is a difficult point in time for us all and it is essential that clients do not suffer at such a crucial time in their lives. As an AR affected by today’s announcement our priority is to continue to support our referral partners.

“This solution with Key ensures that clients will be looked after and treated fairly and those referring to us can continue to do so in the knowledge that they will still be paid at the same or better levels than previously.”