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Another hold-up in RJ Temple stake talks

IFA RJ Temple has suffered another delay in its search for an investor to buy a stake in the firm.

The closure of a new deal was due to be announced at the company&#39s annual conference in Lon-don last week but, as part of his introductory speech, chairman and chief executive Geoffrey Morphitis warned employees that they would have to wait until March at the earliest for further information.

The company started looking for an investor in 2001 and this is believed to be the third round of negotiations, with the other deals falling through.

RJ Temple hired KPMG last September to find a suitable investor to buy part of the business. The money raised will be used to fund recruitment and expansion from 220 advisers to 300 by the end of the year.

Morphitis says: “It was planned to announce the deal at the annual conference but we are in a period of due diligence when our potential investor or investors are looking at the company records and affairs.”

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