View more on these topics

BBB may buy firms to bolster IFA arm

Berkeley Berry Birch says it may acquire IFA firms to develop the adviser arm of its business but is unlikely to merge with another firm after the collapse of talks with Inter-Alliance.

A statement put out last week said trading in the year ending March 31 was in line with market expectations and said BBB made an operating profit in February and March. The firm said it had cash reserves of over £10m at the end of March.

Industry sources say the deal collapsed because the price was not right for Lockyer to face giving up control of his firm for a less influential role in an enlarged group. Valuation of the terms had proved difficult, with BBB&#39s share price fluctuating between 28p and 18p during negotiations.

BBB this week launched its mortgage arm and says it wants to double its IFA numbers. Its two IFA firms, Berry Birch & Noble and Weston Financial Group, both have 80 advisers each compared with more than 600 RIs in its Berkeley Independent Advisers network.

BBB group chairman Cliff Lockyer says: “Keith and I worked hard for this deal. We are a cash-generative business and have no plans to call on the City for more cash. As far as the future is concerned, I do not see another merger although I can see some acquisitions we might make.”


&#39Industry should develop European pensions&#39

European-wide personal pension plans should be developed from industry initiatives and not designed by regulators or legislators, according to a report on insurance and pensions published last week by the European Commission. The report says the scope for cross-border company schemes is set to grow but that relatively few pension providers have fully exploited the […]

AIG Life – Managed Income Multi-Manager Fund of Funds

Type: Unit-linked fund of funds Aim; Income and growth by investing in bond funds, property funds and equity income funds Minimum investment: Lump sum £500 Investment split: 39.20% UK corporate bond funds, 18% UK equity income funds, 11.8% UK high yield bond funds, 12.% property funds, 13% global bond funds, 6% UK gilt funds Charges: […]

&#39Home reversion regulation will take some time&#39 – SHIP

Safe Home Income Plans, the voluntary regulator for equity release, says there is likely to be a long delay before home reversion regulation becomes effective. Chairman Jon King is delighted that home reversion will be regulated but points to the fact that the Treasury will now consult on the definition of home reversion plans, and […]

The LIA&#39s view

The LIA has firmly established its path towards professional body status. We have spent the last year putting together a package of proposals which were, first, agreed by our membership at an EGM in March and, second, set out in detail in a manifesto published at the time of our annual conference two weeks ago. […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm