The error saw the Companies House system state last week that Mr Taylor had been terminated from his role of a director at all Fairstone entities.

According to the Financial Planner and wealth manager, the error was “immediately identified and rectified on the Companies House system” but “may have triggered certain notifications which has prompted this notice.”

Fairstone is itself one of the UK’s largest Chartered Financial Planning firms. It has over 40 locations across the UK with a head office in Newcastle and a City office. It oversees £14bn in FUM for over 45,000 wealth clients.

The firm has made two acquisitions so far this year, £200m FUM Lincolnshire Chartered Financial Planner firm MT Financial Management and £450m FUM Surrey Chartered firm Mantle Financial Planning.

Mantle Financial Planning focuses on holistic Financial Planning for high-net-worth individuals. It has 11 advisers, 16 staff and more than 2000 clients. All will be absorbed by Fairstone.

MT was set up 25 years ago and focuses on providing holistic Financial Planning. Its four advisers and nine staff will join Fairstone which will add MT’s 600 clients and £200m in Funds Under Management to its portfolio.