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Falcon seeks funding to expand

IFA network Falcon Group is seeking capital to expand its IFA offerings and increase its presence in the marketplace and says under the right market conditions, it would seek a stockmarket listing.

Chief executive Allan Rosengren says the firm is seeking additional funding to buy equity stakes in IFA firms and to launch an IFA services comp-any separate from the existing business.

It is also looking to refund its subordinated debt and acquire additional capital adequacy. In January 2003, Falcon was the first IFA in the UK to be granted a PI waiver and has since continued to be self-insured. In the past year, its network business has grown by around 25 firms.

Rosengren says the firm is looking to secure and develop IFA firms with a typical turnover of up to £5m.

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