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BBB issues trading statement

Berkeley Berry Birch has released a trading statement saying for the year ending March 31, 2004 its results have been in line with market expectations.

Based on unaudited management accounts, the listed IFA has reported an operating profit in both the months of February and March, achieved one month ahead of expectations.

The trading update came just minutes after a separate stock exchange announcement stating merger talks with rival Inter-Alliance have been abandoned.

It goes on to say BBB&#39s performance measures of gross margin, central costs and operating profit/loss have all shown improvements in the last quarter of the year ending March 31, 2004 with the cash reserves of the company in excess of £10m at the year end.

BBB will announce its preliminary results by June 30, 2004.


FSA receives 5,580 registrations for authorisation

The FSA has today revealed that by the end of April, it had received 15,046 registrations to obtain an application pack and 5,580 applications for authorisation. 8,675 registrations were from insurance businesses and 6,371 for mortgages. Out of those that have already applied for authorisation, 3,684 were mortgage firms and 1,896 were general insurance firms. […]

Kenmir says FSA stands by promise to IFAs

The FSA should be taken to task if it tries to place a retrospective review on IFAs,says managing director David Kenmir. Speaking at the Money Marketing IFA round table last week, Kenmir said it would stand by its promise to deal with IFAs on the basis of the standards current at the time that the […]

Product matters

You may groan at the thought of another New Star fund and wonder how this one can differentiate itself from some of the other funds in the stable. Well, for a start, its UK special situations offering is a tiny fund at only £2.5m and it is not being run by a fund manager you […]

Advisers must account for CI rebroking to get PI renewed

Professional indemnity insurers are turning their attention to critical-illness insurance rebroking, telling IFAs they will have to account for any of this business before they see their coverage renewed. Speaking at the Money Marketing Fair Deal for IFAs round table, Direct Life & Pensions sales and marketing director Richard Verdin said his firm was told […]


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