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A2O wants commission to stay as profits leap 40%

Profits have soared by 40 per cent for IFA network Alpha to Omega.

The Winchester firm says profits rose to 732,000 for the year ending March 31 from 520,000 last year. Turnover increased by 7 per cent to 10.6m from 8.1m.

The network has 42 member firms and is in its fourth year of trading. Chief executive Stewart Wooles says profits will be reinvested into the business so it can offer members improved services, including an updated online commission system through its new website and better terms across a range of specialist industry software.

He says: “This has been another year of steady progress, with improved productivity and profitability. The year ahead will be challenging, with the introduction of Mifid and the effects of the retail distribution review. We remain convinced that commission, when open and transparent, should remain an option for our members. That is what they want and, more important, what a majority of their clients want.”


Libor leap to bring sub-prime shock

Sub-prime borrowers on variable-rate mortgages could face a massive payment hike after the spread between bank base rate and three-month Libor reached a 20-year high last week.Hamptons managing director Jonathan Cornell says that many sub-prime borrowers will face a hit when lenders start to reset their variable-rate sub-prime loans in the coming months and the […]

Out of Context

“I’m more than happy to ambush you all.”Compliance consultant Adam Samuel would do anything to hang out with the MM team “If you are not going to be clear and transparent when operating a wrap, then you may as well substitute the w in wrap for a c.”Seven Investment Management marketing director Justin Urquhart Stewart […]


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