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15th deal for Destini as it buys up Radnor

IFA group Destini has made the fifteenth acquisition since its launch 13 months ago with the purchase of Swindon IFA the Radnor Group.

The deal, for a mixture of cash and shares, adds the nine-RI business to Destini&#39s growing portfolio of IFA firms which includes Fiona Price & Partners and former Sesame IFA Applewood Associates.

Radnor specialises in administering pension schemes for companies with up to 1,200 members in their schemes. It gets around 35 per cent of its business through referrals from one of the country&#39s leading relocation companies.

Destini&#39s focus in the last 12 months has been on building the number of firms that form the group, selecting some businesses specialising in niche areas to expand the breadth of advice available to clients.

The group plans to con-tinue its aggressive growth strategy this year and is looking to establish itself as a leading national brand, increasing its focus on marketing and promotion. Chairman and chief executive Barry Parsons says the move boosts the group&#39s total RIs to 91, with a collective turnover of £9.2m.

Radnor managing director Barry Thorpe says: “We considered joining a network but excluded the idea on the basis that too much control of how the business runs is taken away. We think there will be strength in numbers and Destini as a consolidator offers a decent proposition.”


Mutual friends and foes

IFAs are split over the prospects of losing a mutual. Some advisers say a flotation of Standard Life will make the life sector less competitive. Others see flotation as a way to give Standard the flexibility to compete. Hargreaves Lansdown head of pension research Tom McPhail says: “Standard will probably demutualise in about two years […]

L&G launches protection marketing material

Legal & General is launching a new set of guidance cards that outline the opportunities for recommending key person cover, directors share protection and partnership protection policies. The life office&#39s 2003 business intentions survey highlighted that half of the UK&#39s small firms risk collapse within a year as the health of their key workers remains […]

Recent with-profits policyholders can reconsider – Standard Life

Mutual insurer Standard Life has revealed policyholders who have taken out with-profits policies since November 16 will have the chance to reconsider in the light of yesterday&#39s announcements. It has said it will be writing to policyholders who have taken out with-profits policies in the current financial year “to offer them the chance to reconsider, […]

Close Brothers Investment – Close High Income Properties

Type: Closed-ended fund Aim: Income by investing in UK commercial property Minimum investment: Lump sum £5,000, Isa £7,000 Place of registration: Isle of Man Investment split: 100% UK commercial property Yield: 7.25% Isa link: Yes Charges: Initial 5.25%, annual up to 2% Options: Available through self-invested personal pensions and small self-administered schemes Commission: Initial 3% […]

Looking back at 2015

By Fiona Tait, Pensions Specialist 2015 was quite a year for pensions. Change, more change, and proposed changes to the changes. The Spring Budget – pre-election plans With everything that has happened since, it is hard to remember what happened in March. Following on from the bombshell of the 2014 Budget, the Chancellor confined himself […]


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