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Host closes branches and cuts admin after Aim flop

IFA Host Partnership is closing down its branch network and scaling

back its admin support, blaming a poor response to its proposed Aim


The move, which Host describes as a change to its charging structure,

will see the closure of 13 regional offices and around 100 RIs

looking for new premises by the end of February.

Host parent HST Financial is stressing that so far there have been no

job losses. It says Host Part-nership&#39s members are all self-employed

and that around 30 per cent have already moved to their own premises.

The HST Financial group comprises IFA network Sage and a support

group for non-FSA regulated business, Trinon. It says the closure

will see Host members&#39 services and charges more closely aligned with

those of its Sage network members.

It has blamed the poor investment environment following September 11

for the low interest in its Aim listing, which sought to raise


HST Financial chief operating executive Philip Lockyer says: “We have

been working on this for some time. The members can continue to be

branded as Host and we want to keep the partnership going. The loss

of certain localised support services comes at a time when our

membership are sufficiently established to move their businesses

forward and many have already made the move to their own premises.”


Breaking barriers

Tackling financial exclusion has been an important aspect of theGovernment drive to combat social exclusion. People are financiallyexcluded when they do not have access to basic financial services.The Government&#39s own social exclusion unit has estimated that about10 per cent of the adult population (around four million people) arewithout a bank or building society account. Around […]

Investment update

ABN Amro is offering a blanket 1 per cent discount on all Isa and Peptransfers and new Isa business until the end of April. The discount,which is exclusive to IFAs, will reduce the initial charge on theseven funds from 5 per cent to 4 per cent. Annual management chargesare between 1.25 and 1.5 per cent. […]

Lend me your arrears

With sources such as the CBI reporting the biggest growth inChristmas consumer spending since 1987, this month will find manypeople realising that their overspending has turned into the grimreality of higher debt levels.It is all too easy to delay paying the major monthly bills but theconsequences of mortgage default are by far the most serious. […]

Equitable still to face legal action

Thousands of policyholders will pursue legal action against Equitable despite its compromise scheme being passed by members, says a law firm acting on their behalf.Class Law Solicitors says it welcomes the results of the vote as it stabilises the society but insists legal action will still begin next week on behalf of UK and international […]


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