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Gilchrist sets up IFA firm

Former Churchill Investments directors Chris Gilchrist and Stephen Poland have launched a new IFA business, FiveWays Financial Planning.

The Weston super Mare-based firm offers independent advice on a fee-only basis. It is a member of The Whitechurch Network and has six IFAs, including ex-Churchill advisers Jim Bloodworth, Jon Lawson, Ian Evans and Richard Forrest.

Gilchrist, Bloodworth, Lawson and Evans are directors of Fiveways. They plan to grow the firm to between 10 and 15 IFAs.

Gilchrist does not advise individual clients but heads the FiveWays investment committee, with responsibility for marketing and communications.

FiveWays will offer in-house investment services and will outsource clients with smaller portfolios to a discretionary fund manager. It has not yet decided which DFM to use.

Gilchrist says the firm’s charges vary based on individual client needs. Its ongoing review service costs 1 per cent of assets under advice, with a minimum fee of £500 per year.

He says: “Our aim is to build an independent advice business with services targeted at people who are prepared to pay fees, provided they get top-quality personal service, communications and advice.”

Gilchrist quit Churchill in October last year after a disagreement with fellow director Jamie Ware over the future direction of the business. Ware and Gilchrist established Churchill in 1995 with Hargreaves Lansdown’s head of research Mark Dampier.


MPs in amendment bid to publish BoE minutes

The Treasury select committee has tabled an amendment to the Financial Services Bill which would require the Bank of England’s court of directors to publish its minutes. It comes after the TSC and the bank clashed over the committee’s request for it to release minutes from court meetings during the financial crisis. The bank said […]

Principality Building Society restricts interest-only

Principality Building Society is restricting its interest-only offering to just three products. The Welsh lender is still offering interest-only or part interest-only deals up to 85 per cent LTV. Its 85 per cent LTV deal is available on a three-year discount rate, with a discount of 0.3 per cent from its SVR, currently 4.99 per […]


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