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BBB announce 24.5m losses

Berkeley Berry Birchs results show an operating loss of 24.5m, after a goodwill impairment charge of 19.6m, for the year ending March 31 2005.
The firm says the FSA investigation into the sale of Berry Birch & Noble Financial Services has been discontinued.
It also says the FSA investigation into Berkeley Independent Adviserss sales of life and regular savings products should be closed shortly.
The results show an increase in gross profit margin, from 26.4 per cent to 27.3 per cent with turnover at 67m.
Operating loss before goodwill amortisation and impairment and other exceptional items is reduced from 4.9m to 1.6m.
BBB executive chairman Cliff Lockyer says: “Although the operating loss before goodwill amortisation and impairment and other exceptional items has been substantially reduced, the growth of the business has been hindered by the impact of the FSA investigations.”


Dry run planned for Hips in 2006

Home information packs took one more step to becoming a reality as industry bodies agreed with the ODPM on a dry run, to be carried out next year. Approval has also been given to the diploma in home inspection. The partnership is also look- ing at a not-for-profit certification scheme to oversee the standards of […]

Widows questions Killik switch

Scottish Widows is questioning the motives of Killik & Co after the stockbroker swit-ched its group pension scheme to a third provider in just two and a half years. Killik will earn commission from Friends Provident as it is acting as its own broker and was also previously paid commission by Widows. Killik marketing director […]

‘IHT rules will force pension holders back into annuities’

HM Revenue & Customs’ proposals for how inheritance tax will apply after A-Day will effectively force people back into annuities just months after removing the obligation to buy them, claims Standard Life marketing manager John Lawson. Individuals opting for alternative secured pensions or drawdown look set to trigger IHT bills on their remaining funds on […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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