View more on these topics

Charcol founder to buy retiring IFA firms

IFA John Charcol founder member Colin Studd is understood to be setting up a new company with the aim of buying the businesses of IFAs approaching retirement.

Consifa will offer to buy small IFAs who are approaching retirement by offering an up-front payment, retention of all returns for three years by the adviser and a shareholding in the company. IFAs will be given the opportunity to continue to work under the new structure.

Studd aims to float the company in the new year.

The embryonic business, which claims that its way of purchasing firms will offer IFAs greater flexibility in the way they relinquish control, is believed to have agreed deals in principle with several firms.

Chartway Financial Management director Studd is believed to be teaming up with Nick Worrell, who has experience of taking companies to the market, and ex-Charcol company secretary Ian Hazeel.

The group is looking to raise £1.5m to £2m through venture capital and is targeting a launch on Ofex in January or February next year.

Studd says: “A lot of hard graft has gone in and a lot more is to be done.”


Pink Home Loans – The Chameleon Mortgage 70 Per Cent

Wednesday, October 31, 2001.Type: Tracker mortgage.Tracker term: Term of loan.Tracker rate: Bank of England base rate plus 3.25 per cent.Minimum loan: £25,001.Maximum loan: Up to 70 per cent of valuation subject to a maximum of £1m.Income multiples: 3.5 times principal income plus second or three times joint.Arrangement fee: £395.Redemption fee: 6 per cent of amount […]

L&G adds Dresdner RCM Global investors to panel

Legal & General is adding Dresdner RCM Global Investors to its panel of external pension fund managers.The move will result in two new fund choices becoming available, the Dresdner RCM Exempt Global Equity Fund and the Dresdner RCM Exempt UK Equity Fund.L&G head of retail pensions Randle Williams says: “These two new funds increase the […]

Actuaries call for carry-forward to stay

Actuaries are calling on the Government to reverse the withdrawal of carry-forward as part of proposals designed to improve the returns from personal pensions for low-income savers. The suggestion is contained in a paper presented to the Institute of Actuaries this week which aims to show how a reinstated carry-forward period of 25 years would […]

HedgeWorld FundSelect platform goes live

HedgeWorld FundSelect is launching its hedge fund supermarket service to individuals and IFAs, giving access to investment in its list of single and multi-manager hedge funds.Over 100 single and multi-manager hedge funds have agreed to list their funds on the Bermuda-based platform. HedgeWorld Markets managing director Jeff Joseph says: “Hedge fund strategies are an increasingly […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment