National IFA franchise Ashley Law is setting up a share option scheme to allow members to participate in its growth.The shares – to be offered in Ashley Law parent Ashley Law Management Services – will be offered to any of the firm’s 85 franchise partners who achieve 60,000 annual turnover with a decent persistency rate. ALMS is 50 per cent owned by directors Jock Cassidy and Martin O’Kelly. Of the remaining 50 per cent, half will be allocated to franchise partners and the final 25 per cent will be available to outside investors. Ashley Law has a total of 120 registered individuals across all franchise businesses. Managing director Jock Cassidy says it has no plans to establish a multi-tie, seek provider investment or engage in merger or consolidation. It says the share option scheme will allow low-cost growth while rewarding long-standing partners and offering incentives for new ones. Cassidy says: “We have no plans to change our model although we will always keep an open mind. There is no need at the moment to engage in merger or consolidation. We are busy investing in internal business development.”
BM Solutions is launching a limited edition buy to let lifetime tracker. The BTL special has a rate of 4.89 per cent and has a 1.5 per cent arrangement fee with three years of early repayment charges. The product has a rental calculation of 125% per cent of BBR + 0.39 per cent.All BM Solutions […]
Prudential has failed to win a place on Burns-Anderson’s multi-tie panel despite working on its initial development and announcing in January that it had already signed up. The five successful providers for the panel are Axa, Friends Provident, Legal & General, Scottish Equitable and Standard Life. Prudential was a strategic partner in designing B-A’s multi-tie […]
The FSA is fining Bear Stearns International 40,000 for failing to report contracts for differences transactions. During a review of trading, the FSA discovered that BSIL had inadvertently failed to report any of its CFD transactions to the FSA since August 2001, which is when the firm began to undertake CFD business. The FSA says: […]
IN Partnership celebrates its fifth anniversary this year and says it will double in size by 2008. Group chief executive Kevin McDonagh, group chairman Stanley Lovell and group commercial and legal director Julian Cole set up the Horsham-based network on July 1, 2000 under the Inland Revenue Enterprise Incentive Scheme. The network has its own […]
Jelf Employee Benefits looks at some of the key considerations employers should think about when reviewing and choosing a flexible benefits provider. Choosing the right benefits for your employees is one thing but delivering a successful employee benefits strategy is about understanding the complete picture and delivering it in a personalised way so that it resonates with each and every individual in your business.
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