View more on these topics

Advizas&#39 RIs fail to fit in at Towry

National IFA Towry Law has lost nearly a third of registered individuals from acquisition Advizas in recent weeks because they failed to adapt to Towry&#39s culture.

Towry bought out Advizas, the IFA arm of Hogg Robinson, for £23.1m last December. At the time of the purchase, it had around 100 RIs.

The majority of the 30

RIs have quit to join former Advizas directors at a start-up company with the working title of LEBC.

But the latest defection came last week when five “key” RIs walked out to join Canterbury-based IFA Advisory & Financial Planning Services.

Among them are Advi zas executive director Step hen Greenstreet and director Ian Curle.

The other Advizas RIs are believed to have left Towry to set up on their own or go to other IFA firms.

Three of the four Hogg Robinson executive directors who came over to Towry have now departed.

Towry says those who have left were not comfort able in their new working environment.

Since the Advizas&#39 acquisition, Towry has snapped up IFA HambroFraserSmith.

Towry now has more than 300 RIs and is looking to expand further through acquisitions and organic growth.

Marketing director Mike Bowman says: “We have obviously lost some good people but we are still growing in size.”


Mortgage 2000 online site can&#39t meet guarantee

Mortgage 2000 online site, Moneysupermarket, is facing difficulties meeting its 48 hour offer guarantee which it launched two weeks ago. The site makes lenders bid for customers&#39 business, but due to overwhelming demand, it has had to admit some applications are taking up to 12 hours longer to process than they are supposed to. Nearly […]

Pension details must be simpler

As practising IFAs, we have become increasingly concerned with this Government&#39s continuous changes and additions to pension legislation.Since 1997, we have seen the abolition of ACT relief and the replacement of Serps which has increased the cost of retirement funding. We now have the introduction of stakeholder pensions, concurrency and the new investment instrument, the […]

Fixed loan aims to beat inflation fears

Mortgage 2000 is offering a two-year fixed-rate loan aimed at protecting borrowers from interest-rate fluctuations in the run-up to the general election.The rate is fixed at 6.49 per cent until August 1, 2002 for loans up to 95 per cent loan to value. There are no overhanging redemption penalties.This deal is being offered in conjunction […]

Swiss Life revamps income protection products

Swiss Life is overhauling its range of income-protection products for the first time since their launch in 1994 to keep them competitive.The protection specialist is making three major changes to the products as well as a number of minor alterations to simplify them for IFAs and make them more attractive to consumers.Swiss Life is offering […]


Guide: how to change your auto-enrolment support

As we approach the two-year milestone of auto-enrolment, employers have had the opportunity to truly assess the capabilities of their chosen support. They are also now realising that getting to the staging date was the easy part, and that support is required for almost every aspect of the day to day running of their scheme. With the three-year re-enrolment window coinciding for many with the total removal of commission and Active Member Discounts from pension-related products and services, as well as the introduction of the pension charge cap in April 2015, many employers will have no choice but to review their support options. But, what is involved in transitioning your auto-enrolment scheme away from your current support options? This guide from Johnson Fleming aims to outline some of these key areas and provide information and discussion points on what you need to consider.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm