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
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.”