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&#39Chancer&#39 IFAs investing in future

More IFAs are getting into debt to fund expansion according to new research from the Plimsoll consultancy.

The Plimsoll Strategic Risk Index revealed 58 per cent of IFAs getting into debt through funding from banks and other institutions are using the money raised to boost their profits.

It calls these firms “chancers” and says they make up around 10 per cent of IFAs with sales over £10m.

Plimsoll senior analyst David Pattison says: “The dilemma for these companies is that they will need to keep charging a price premium to finance the debt.”


IF – a loan application oddity

Bungle Busters is brought to you this week courtesy of Intelligent Finance – making a welcome return after first appearing in May – as a result of computer system problems. IFA CDG Financial Services director Chris Green says IF has had to repro-cess his self-employed cli-ent&#39s remortgage application four times because the internet and phone […]

Virgin One campaign bids to double sales via intermediaries

Current account mortgage provider Virgin One is setting up a dedicated sales and marketing support service for mortgage brokers in a bid to double its intermediary sales.Virgin is sending marketing packs to 10,000 mortgage brokers and IFAs in a move it hopes will help increase its proportion of sales through intermediaries to 25 per cent […]

Inora Life brings in with-profits alternative

Inora Life, the Dublin-based offshoot of Societe Generale, has designed a capital protected offshore bond as an alternative to with-profits bonds.The protected profit bond has a five-year term and is available in an income and a growth version.Investors with the growth option get 100 per cent of their original capital returned after five years while […]

Discount broking thrown into doubt over EU ruling

The future of discount broking could be in doubt if new European Union regulations get the go-ahead. Under the EU proposals, all intermediaries will be required to carry out a full fact-find for all investment transactions. These requirements are contained in the committee of European securities reg-ulators&#39 proposal for the harmonisation of business rules. Trade […]


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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