View more on these topics

Berry Birch profits slump as Moores Marr takeover fails

A failed attempt to buy rival IFA firm Moores Marr Bradley contributed to sharply reduced six-month profits at Berry Birch & Noble.

Profits plunged to £177,000 for the half-year to July 31 compared with £355,000 for the same period last year, a drop of more than 50 per cent.

Berry Birch & Noble paid £141,000 in professional fees for the aborted attempt to take over Milton Keynes-based Moores Marr Bradley.

The talks broke down in April after the companies had agreed a deal in principle.

BBN, which is listed on the Stock Exchange, says it is still on the lookout for acq uisitions.

Its mortgage division also performed poorly, with business down by 11 per cent. Berry Birch & Noble ref uses to give a figure for the amount of mortgage business written.

Company secretary John Cutting says: "The mortgage operation is the part of the business which has caused the reduction in profitability."

Berry Birch & Noble, with around 50 registered individuals in seven branches, says it is on target to meet its December 31 deadline for dealing with 90 per cent of priority pension review cases. The company would not reveal how many priority cases it has.

Founder directors Derek Berry and David Birch rem ain the biggest sharehold ers with a total stake of 20 per cent.


Directors facing big pension review fines

Directors of the PIA&#39s biggest member firms face hefty fines in four months if they continue to drag their heels over the pension misselling review. The PIA has brought forward individual registration for directors of its 92 biggest members in a bid to speed up the long-running review. The contracts come into force on May […]

Win champagne

Calling all baby boomers. This is your chance to win some Champagne. You could win a case of bubbly by simply telling us what is the weight of the biggest baby ever born? The prize comes courtesy of Tunbridge Wells Equitable, in a link up with Money Marketing, to tie in with its campaign for […]

PIAOB will not pursue Burns case

Burns Anderson breathed a sigh of relief this week as the PIA Ombudsman Bureau ruled it will not investigate a £5m compensation claim against the network. About 200 investors in a failed Spanish property scheme, sold by former Burns Anderson member Steed Financial Planning, are seeking redress. But PIA Ombudsman Tony Holland ruled that he […]

Corporation tax rejig as ACT axed

Advance corporation tax will be abolished from April 1, 1999 and the famous instalment method of payment of corporation tax announced in the Green Budget last November has been firmed up in the actual Budget. There are, however, some important changes. From April 1, 1999, small and medium-sized companies will pay their entire corporation tax […]

Looking back at 2015

By Fiona Tait, Pensions Specialist 2015 was quite a year for pensions. Change, more change, and proposed changes to the changes. The Spring Budget – pre-election plans With everything that has happened since, it is hard to remember what happened in March. Following on from the bombshell of the 2014 Budget, the Chancellor confined himself […]


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