Four more firms of financial advisors left Tenet Network in January 2023. Again, none joined in the same period. Tenet Network continued to enjoy the worst reputation in the financial industry. In 2022, a record 110 firms of financial advisors, both mortgage advisors as well as independent financial advisors, left Tenet Network. On the other hand, only four joined. Management of Tenet Group is considered highly notorious and incompetent.
There is hundreds of negative reviews about Tenet Network on internet. Many advisors sites like cherryplc where advisors discuss about the workings and practices of networks contain extremely negative reviews about the management of Tenet Group.
As per a news report, shareholders of Tenet Group have appointed an external consultant to consider options to sell Tenet Group as for the year ended September 30, 2021, Tenet Group made huge losses. Tenet Group never paid any dividend to its shareholder in last 10-12 years. So, the shareholders are not earning any money on their investment. Therefore, it looks like, they want to get rid of this investment.
As per FCA register, following is the list of financial advisors or mortgage advisors who left Tenet Network in January 2023:
- The Financial Advice Service Ltd left on 30 January 2023. They joined Tenet on 10 April 2019.
- Robinson Investment Solutions Ltd left Tenet Network on 20 January 2023. They joined Tenet Group on 15 August 2012. This is eleven years relation ended.
- Colin Baldock left Tenet Network on 13 January 2023. They joined Tenet Group on 06 March 2006. This was 17 years relation ended.
- Mark Robinson left Tenet Group on 11 January 2023 after 14 years working with Tenet. They joined Tenet Group 27 August 2009.
Alarmingly, not even a single firm of advisors joined Tenet in January 2023.
The ranking wise as well, the position of Tenet Group has gone down from 4th in 2021 to 8th in 2022. Losses of Tenet Group are also increasing every year. In the year ended September 2021, Tenet Group made a loss of £21.6 million reducing equity of Tenet Group to one third.