View more on these topics

Debt collectors claw back loans from Inter-Alliance paraplanners

Debt collectors are pursuing former Inter-Alliance paraplanners who took out company loans to set up their own business.

Ex-advisers have received demands from debt collecting firm CBC Inter-national which has been employed by the national IFA to claw back thousands of pounds in loans which were made to help them start up in business.

Two advisers, who want to remain anonymous since they are planning to reapply for FSA authorisation, told Money Marketing that they were forced into paying off the loans with their credit cards.

As part of its expansion project, Inter-Alliance, which merged with Millfield last month, handed out loans of £1,250 each month for three months to former paraplanners to help them become IFAs.

But many of the new IFAs found that three months was not enough time to establish a business model as they did not have a client base and many closed down.

One of the advisers says: “The simple fact is that three months is not enough time to get an IFA business up and running. I offered to pay the money back in instalments and they were not happy with that.”

Millfield/Inter-Alliance was unavailable for comment on the matter.


Boulger anger over BTL ad ‘confusion’

Networks and mortgage advisers must make sure advice booklets for regulated and non-regulated mortgages do not contain the wrong information, says Charcol senior technical manager Ray Boulger.Boulger says references to buy-to-let mortgages have had to be extracted from Charcol’s brochures as they come under separate advertising rules to other mortgages which have been regulated under […]

Keith Popplewell: Tolerance levels

In my last few articles, I have identified and discussed the nature and extent of the three main risks involved in a pension drawdown strategy – interest rates, investment performance and the risk from increasing life expectancy.

Allianz Technology Trust – April 2017

Welcome to the latest update for Allianz Technology Trust PLC from the Trust’s portfolio manager, Walter Price. Portfolio review The Trust’s NAV returned 4.3% , outperforming the Dow Jones World Technology Index return of 2.8%. In US dollar terms, the portfolio gained 4.8%. During the month, stock selection contributed to relative performance, and industry allocation […]


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