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Former Charcol boss not surprised by the sale

Former Charcol head Toby Strauss says he is not surprised to hear that Bradford & Bingley is to sell its non-core IFA businesses.

Strauss, who is now chief executive of investment IFA John Scott & Partners, says it makes sense for B&B to streamline its business.

He says the market for those looking to buy IFAs may not be as buoyant as it was two to three years ago, but that the bank will likely not struggle to find a buyer.

He says: “I think the market for IFA businesses was quite strong two to three years ago, but I don&#39t know if there are many buyers now. But like all these things you only need two interested parties to start an auction.”

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