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Arc acquires investment business

Arc Fund Management Holdings has added to its business offering with the acquisition of Independent Investment Associates (IIA) Limited for some £2.1m.

Arc now has some £410m of funds under management.

Arc finance director John Gracey says: ““This acquisition is another step forward in the growth of Arc’s wealth management division which was established through the acquisition of Throgmorton Asset Management in the last quarter of 2007. It is our intention to increase our coverage of the UK during 2008 through further acquisitions.

For the Group, the purchase of IIA is earnings enhancing, improves the quality of our earnings and significantly increases funds under advice to £410m”.


Future of DB Mortgages unclear as Dudgeon axed

Deutsche Bank has refused to comment on the long-term future of DB Mortgages after it confirmed that managing director Bill Dudgeon has been made redundant.A spokeswoman for the bank would not say whether fellow directors Mark Bergin, David Parry and Paul Graham, who joined DB Mortgages with Dudgeon from The Mortgage Business in 2005, are […]

Rough road ahead for mortgage firms, says Malone

Premier Mortgage Services should have a replacement for managing director John Malone by the end of March with Malone set to become chairman.In an interview with Money Marketing’s Mortgage Brief, Malone says: “We would expect to have somebody probably by the end of the first quarter and, according to circumstances, they would be starting as […]

Brokers hang on with remortgages

Robert Sterling managing director Kevin Duffy says business levels are down by 20 to 40 per cent from last year.He says: “The only thing sustaining brokers is their remortgage book. The important question is whether these businesses can get to April with enough capital to support them. When we get to April, I think the […]

NU lowering protection rates

Norwich Union has cut its protection rates for mortgage, life and term insurance. It has focused on providing affordable cover for sums assured of £175,000 and over.


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.


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