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Bankhall targeting ex-Portfolio members

Support services company Bankhall is looking to recruit 400 former IFA Portfolio firms in a move which would see it swell to 4,800 RIs and rival Misys for dominance of the market.

The firms are being chased by subsidiary Portfolio Member Services, the former IFA Portfolio, whose link-up with Bankhall has added 1,000 firms and taken the total number of RIs to over 4,000.

The 400 firms are members of IFA Portfolio which have yet to sign on the dotted line. PMS is targeting them via an ongoing mailshot programme and a series of nationwide roadshows in October.

Bankhall head of operations Tony Murrell says: “Some 4,500 firms are directly regulated by the PIA. Although our market share is substantial, we would be delighted to talk to the 3,000-odd firms which are not on our books.”

l Booming Bankhall, p19

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