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Ex-Almary Green advisers form new advice brand

Almary Green managing director Carl Lamb

Two advisers from Norwich-based advice firm Almary Green have formed their own advice firm after Standard Life-owned national 1825 pulled its offer to buy the firm.

The two advisers, Fiona Sharp and Stephanie Clark, have set up Verve Financial Planning along with former Sense Financial Solutions adviser Steve Buttercase.

The three advisers will act as separate firms but share the Verve brand as appointed representatives of the In Partnership network.

Buttercase tells Money Marketing: “Having three independent businesses is working really well so far.”

Buttercase says Verve is looking to push fees “as far under 2 per cent as we can” and will focus on cost as it builds its service line up.

He says: “We want to build a ground up investment proposition that includes a reasonable suit of services that consider the total value for money of the package.”

A total of six advisers left Almary Green between March 2016, when Standard Life agreed terms for an acquisition, and November 2016, when Standard Life and Almary Green said they had “mutually agreed” to end discussions at the eleventh hour.

Almary Green hired two new advisers and replaced three paraplanners that also left the business.

Almary Green managing director Carl Lamb told Money Marketing at the time: “There is always the risk [that will advisers will leave after an acquisition] because people are free to make up their minds and exercise that choice. In any form of business plan and even without the acquisition of 1825 you have to factor in a certain amount of turnover.”

The acquisition by 1825 would have meant moving from independent to restricted status for Almary Green advisers however.

Verve’s website reads: “We are independent financial advisers, and therefore we are not tied to any one financial provider. We remain unbiased.”

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Comments

There are 12 comments at the moment, we would love to hear your opinion too.

  1. It’s a shame that the advisers who have set up Verve, and left Almary Green more than 6 months ago, are still subject to half of their article being about Mr Lamb and have his face atop their piece!

  2. Very best of luck to them. Two excellent advisers who will no doubt have every success.

  3. I will second that Bakes – two highly regarded advisers who are a credit to their profession. Bravo!

  4. Ooh lovely, this is such splendid news, I almost spat out my nutty bread in disbelief when I read this wonderful news.

    I wish you the very best of luck in your endeavours, and I’m glad you’ve got away from that nasty man.

    If you feel you need the support of a highly qualified pension transfer specialist DB transfer investment analyst extraordinaire then you should consider getting in contact, I feel I could assist. I could bring the following to the table:

    – Nutty Bread
    – The belief that IZAs are a good idea
    – Knitting

    In addition, I looked at pension transfer the other day and the critical yield was 7%, that’s far too much, we only charge 0.5% so I will bring that knowledge too, don’t tell anyone.

  5. I wish Fiona and Steph all the very best in their new endevour. Two of the most repected advisers I have had the pleasure to work with. Good luck ladies.

  6. Carl must be ruing the day he met 1825 as these ex employees go off and become competitors taking all their clients with them, oh dear!

  7. JazzlemyJeffrey 21st March 2017 at 8:55 am

    I like the cut of your jib gedgetron

  8. I agree with Norwich IFA (whoever you are!) We left Almary Green over 6 months ago on good terms, and remain so. I am a bit saddened for all parties to see the whole 1825 story dragged up again, especially when we are excited that Steve has joined us, and we are all moving on.
    Thanks for your nice comments though..we do appreciate it!

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