View more on these topics

B&W in£40m Willis Nat buy

Bristol & West is to buy IFA Willis National from joint owners Willis Group and mortgage rival Abbey National for£40m.

Financed by parent Bank of Ireland Group, B&W says the purchase of Money Marketing&#39s Corporate IFA of the Year will diversify its advice.

Money Marketing reported last month that Abbey and Willis Group were reviewing their shareholdings.

B&W plans to merge Willis with its web-based advisory service Moneyextra, which it bought last year, to create a single organisation with internet, phone and face-to-face advice. B&W will use the Willis brand for six months, after which it is expected to come under the Moneyextra banner.

It was attracted by Willis National&#39s size with 300 staff and 18 branches and because it gets 60 per cent of its income in pension and corporate business – areas where it believes it can build business.

B&W chief executive Jeff Warren says: “The purchase will complement our activities, accelerate the development of Moneyextra and add the important specialism of workplace advice.”

Willis National chairman and chief executive Jeremy Budden says: “This is excellent news for the Willis team. We look forward to the opportunities for growth.”

Scottish Amicable national mortgage manager John Malone says: “As the market becomes more and more contracted on the back of polarisation I see further deals of this nature taking place.”

Recommended

Independent view

I was recently asked by an IFA who specialises in the mortgage market, and who works for a large independent practitioner, the following question: What status is J Rothschild Assurance? When I asked what they meant, I discovered that they wanted to know whether a representative of J Rothschild Assurance (a friend of theirs) was […]

LM Financial recruits John Charcol sales chief

LM Financial is recruiting former senior sales head at John Charcol&#39s Holborn head office as its regional sales director for the South of England Dale Pilkington. Pilkington joins two other recent appointments, Chris Hervey is Lamensdorf&#39s new finance director and boasts over twenty years experience at director level in both the financial services industry and […]

Gavin hill

National Mutual managing director Gavin Hill is a man with a slightly unusual passion. But it is difficult to hold this against him when you discover his interest has provided him with both a high-flying career and a 25-year marriage.“I have always been greatly interested in mathematics – it is one of those things where […]

Ned Cazalet

In a story last week, Money Marketing quoted Ned Cazalet&#39s Life 2001 report as saying no life office had more than a 5.7 per cent share of the pensions market. We would like to point out the 5.7 per cent figure related to average market share of the top 10 pension providers for 1999. No […]

Developing your personal relationships – Webex

Read more 9amFinancial advisers and solicitors working together Presented by Ian Muirhead, director & chairman at Solicitors for Impartial Advice (SIFA) Listen to Ian’s expert insight and experiences of how financial advisers and solicitors can work together to deliver mutual benefit and enhanced client outcomes. Register here 10am Financial advisers and accountants working together Presented […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com