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Capita set to make bid for Webline

Capita is thought to be lin- ing up a bid for IFA portal Webline to create a complete package of outsourcing for advisers.

The outsourcing firm rec-ently acquired adviser back- office firm Quay and industry insiders believe that a move for the portal would fill in the gaps in Capita’s adviser offering.

Webline executive chairman Paul Holland says a number of approaches had been made for the portal over the last 18 months but would not confirm if Capita had made a bid.

Capita managing director Steve Parkinson recently told Money Marketing that it was hoping to offer a combined admin outsourcing and back-office package to big IFA firms and networks.

If the acquisition took place, it would line up Capita against Vertex, the other outsourcing giant in the industry, which bought The Exchange in May.

Capita has made several moves into financial services in recent years, buying Winterthur’s 2.9m Sipp administrator PPML in May 2004 and announcing in September that it had entered into discussions with Zurich over the poten- tial to assist with certain operations and business proc- esses within the provider’s business.

Holland says: “From time to time, we receive approaches from third parties, as one would expect mindful of our positioning and impact in this rapidly evolving marketplace. I can confirm that no deals have been formally agreed with any of these parties.”

Parkinson says that he will not comment on market speculation.


Aim flood alert as VCT chase stocks

Aim will be flooded with new money in April which could see a valuation bubble as VCT managers all chase the same stocks, warns VCT specialist Noble. Chief executive Henry Chaplin says that with the VCT tax breaks set to expire at the end of the current tax year and no mention of extending them […]

Fortune favours the brave

Hedge fund of fund specialist Fortune Asset Management is set to make its debut in the onshore long-only multi-manager market in January.

‘Cut in growth rate bigger than expected’

Jupiter corporate bond manager John Hamilton says the Chancellor’s cut in the economy’s expected growth rate to 1.75 per cent – almost half that of his original estimate – is a bigger drop than expected but the market is likely to be reassured that his revised estimate is now more in line with the Bank […]


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