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Heath quits Portfolio to expand Impartial

IFA stalwart Garry Heath is quitting as managing director of Bankhall subsidiary Port-folio Member Services to become chairman of financial services consultancy and media group Impartial.

Impartial was set up last summer by Heath and former IFA Portfolio managing director Mike Owen, targeting IFAs and life offices as clients. Heath will now take a hands-on role developing the business, with Owen as managing director.

Heath says the firm will introduce a number of initiatives for IFAs, including roadshows on the implications of the FSA&#39s polarisation review and extending its product guides for advisers&#39 clients.

IFA support group PMS will remain a separate subsidiary of Bankhall but will be run by a management team of joint chief executives Paul Hogarth and Simon Taylor, sales director Shaun Godfrey, operations director Tony Murrell and business development director Peter Mann.

PMS was set up in 1999 as a joint venture with Bank-hall before being fully taken over by Bankhall in July last year.

Heath says he decided to leave PMS after Bankhall became sole owner.

Bankhall says, as a result of that takeover and its acquisition by Skandia in December, each of PMS&#39s 1,000 members is set to get up to £16,667 in share and dividend payments by 2004.

Heath says: “I was going to leave last July but was persuaded by Bankhall to stay on for a short period to develop the company and oversee its integration with the Bankhall group. Now that task is complete, I am free to concentrate on new ventures.”

Hogarth says: “We are strengthening the management team to increase the level of service to members.”

•Outside Edge, p38

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