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Firms link for 1% world

National IFA the Falcon Group is entering into a joint venture with rival

IFA Indepen-dent Financial Services in an effort to survive in the 1 per

cent world.

The firms will maintain their independence and brands but will share

resources in areas such as marketing and technology. They will also

co-operate and seek cost savings in back-office operations and training and


Falcon has around 75 RIs and IFS has 25. The combined operation will have

a turnover of around £9m a year. The companies are making the move to

help them compete against bigger players in the IFA market. The IFAs met on

board PIMS last year.

Falcon says this is the first of many initiatives. IFS already has a call

centre at its Stroud head office and a number of high-profile affinity

relationships. It provides a stakeholder service for the Federation of

Smaller Businesses and the National Union of Journalists.

Falcon chief executive Allan Rosengren says: “This allows both businesses

to pool their resources and both become more profitable. Separately, we do

not have the resources to match the big players.”


The bones of the bonus

Recently, a trio composed of some of our oldest and most respected lifeoffices, Friends Provident (formed by Quakers in 1832), Legal & General(1836), and Scottish Widows (1815) incurred the wrath of an organisationknown as Chartwell by refusing to disclose the underlying investmentperformances of their with-profits funds. Instantly, the media was crammed with highly critical comment […]

Mortgage customers more web-friendly

Both current account mortgages and buying on the internet are gaining acceptance amongst mortgage holders when considering a new mortgage, according to a survey from market researchers PR3 Mapa.Two thirds of potential mortgage customers were prepared to consider a current account mortgage, compared to 39 per cent in 1998, when the product first appeared. Although […]

ABN Amro passes the£1bn mark in five years

ABN Amro Asset Management passed the £1bn under management mark lastweek, just five years after it launched into the UK market. The Dutch bank began its UK campaign in 1996 when it acquired CarringtonPembroke, and has seen assets double in the past year alone. Its success comes on the back of a strong year for […]

&#39Polarisation review spells big threat to IFA websites&#39

The polarisation review could threaten the presence of hundreds ofIFA websites across the UK, says My Money Adviser. MMA believes that product providers, fund management and pension groupswhich are collaborating on fund supermarkets are keener than ever to offerlow-cost multi-distributor products online direct to the public. The IFA website provider thinks the increased IT and […]

Frexit & contagion risk in Europe

Many commentators have suggested the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune Head of European Equities Rob Burnett discusses the likelihood of this happening. Click here to read more Important informationInvestment risks Neptune funds may have a high historic volatility rating and past performance is […]


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