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Falcon gets set to swoop on Aim

Falcon Group says it is preparing for a listing on Aim as soon as the FSA&#39s consultation process clarifies how the market will look.

The company, which has been a strong defender of polarisation, says it needs City cash to increase its IFA numbers from the present 100 RIs to between 200 and 300 in the next two years but will wait until things are clearer before taking this step.

Chief executive Allan Rosengren wants to raise cash from institutions as he believes selling stakes to providers can compromise inde- pendence.

The firm increased turnover in 2001 by over half to £6.85m from £4.4m in the previous year and made a profit of £341,884.

Rosengren says Falcon expects to float 20 to 25 per cent of the company to raise cash for expansion and is planning growth through acquisition and by achieving economies of scale through strategic partnerships.

Some City analysts have expressed reservations over investor interest in the sector, and Rosengren agrees that the move will depend on market confidence.

He says: “We are certainly in discussions regarding Aim listing. It is much better to expand as a public company.

“The decision about when to list will be dependent on market confidence and the outcome of CP121.”


Lawyers say CP121 may be open to a legal challenge

Leading financial services lawyers are claiming CP121 could be open to legal challenge as IFAs would be forced to operate at a disadvantage to their European counterparts.At present, CP121 states that intermediaries have to be fee-based or operate the def-ined-payment system to remain independent. But the European Commission&#39s recently published draft investment services directive says […]

RSAIFs mirrors Euro bond fund

Royal & Sun Alliance International Financial Services has established the R&SA European balanced yield bond fund.This is a mirror fund of an existing Royal & Sun Alliance Luxemburg-based fund and it will be split equally between investment grade and high-yield corporate bonds within Europe, including the UK.The fund produces a yield of 8.5 per cent […]

Our industry should be proud of its record

I hope that the following information may be of interest to your readers.In 1995, I sold a life and critical-illness policy to a friend – called Jane for the purpose of this letter. It supported her mortgage.She argued for some days over the inclusion of critical-illness cover and, of course, said it was not cover […]

Chartwell takes chocolate box approach

Chartwell Investment Management is offering investors the chance to simplify their portfolios through its managed portfolio service.This discretionary portfolio management service has a choice of three growth strategies — cautious growth, core growth and enhanced growth — and an income strategy. Core growth is the medium-risk portfolio, while cautious growth is lower risk and enhanced […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]


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