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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.”

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