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First State sells private-client arm

First State Investments is selling its private client division Stewart Ivory Wealth Management to banking services firm Adam & Company for an undisclosed sum.

First State says the deal, which adds £450m to Adam&#39s assets under management, is a logical progression of an existing relationship which has seen the Scottish firm provide consolidated banking services for the fund manager since November 2001.

The fund manager says it can now concentrate on the growth and development of its asset management business.


Mortgage points

Julian Stevens usually makes a lot of sense but his letter (Money Marketing, August 15) seems to be way off beam but highlights more serious side issues. First, the position should be neutral if one compares capital and interest and interest-only, using his payment strategy where daily interest is charged on a variable rate. The […]

Women&#39s market has potential for IFAs

Growing numbers of single working women across the country present IFAs with an untapped source of new business, according to financial marketing experts BRG Direct. The firm says despite this potentially lucrative market, marketing strategies in financial services firms target predominantly men and are unlikely to prompt responses from women. It says IFAs can take […]

EIS fails to get green light for Red Light

The team behind heist movie Red Light Runners has been forced to ditch the enterprise investment scheme financing the project after raising barely half its £8m budget. Investors in the scheme had their cheques returned last week after the film&#39s producers decided not to extend the period in which to raise the full budget and […]

Govt must tackle contracting out

Scottish Equitable is calling on the Government to improve contracting-out rebates to make it easier for IFAs to advise their clients. It argues that since the introduction of the state second pension in April, there is now no clear financial incentive to encourage individuals to contract out of S2P. The call for an increase follows […]


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