View more on these topics

Howard sets first-year target of up to 100 firms for M2

Former Maddison Monetary Management managing dir-ector Mark Howard is launching new IFA M2 Financial this week with the aim of recruiting between 50 and 100 firms to the group within the next year.

M2, which will offer a fee-based financial planning service, is targeting small and medium-sized firms with the aim of creating a national presence targeting the professional advice market.

The firm is believed to have extensive internal and external funding running into several millions. It will be based in Guildford, with further offices in the Midlands and South-east.

Howard says he is already “in the closing stages” of securing the acquisition of seven IFA firms.

He says that over the past 12 months, he and his team have been working on a much bigger project which will form part of a wider move into the UK market, with M2 Financial forming an integral part of this initiative.

Howard set up Maddison in 1997 before selling the firm to Lamensdorf in 2001 for an undisclosed fee.

M2 has already invested heavily in technology which it hopes will distance it from the “cottage industry” IFA.

Howard says: “We will be improving and expanding on the original Maddison business model – many of the core values will be the same. M2 will offer a national presence with a team of like-minded individuals, targeting the professional and private clients&#39 market.”


Opra swoop uncovered £4m bogus pension sting by IFAs

Two Midlands IFAs face up to five years in prison after defrauding the Inland Revenue in a £4m scam to transfer cash from occupational pension schemes.Stephen Russell, 60, and William Ferguson, 56, pleaded guilty to four charges of cheating the public purse after transferring the occupational scheme rights of around 200 people into bogus pension […]

Modray to join Bestinvest in marketing and PR role

RJ Temple consultant Justin Modray is joining rival IFA Bestinvest, with responsibility for some of the PR and research functions previously carried out by Jason Hollands.He will join Bestinvest in March following the departure of former deputy managing director Hollands, who joined Isis last week as group communications director.Modray will be responsible for some PR […]

Declaration to consumer replaces better than best

The FSA is to scrap the better than best rule, replacing it with a declaration to consumers of any financial ties to providers and a prohibition on sales targets linked to inward investment as part of consultation paper 166: Reforming Polarisation.As proposed in CP121 in January last year, the draft rules for depolarisation will see […]

Regulator to give early warnings on problem companies

The FSA is planning to take the unprecedented step of issuing public guidance about specific problems with firms which could see it give early warnings over stricken companies such as Equitable Life.Unveiling the plans at the Raising Standards conference in London this week, FSA managing director John Tiner, who is widely tipped to become the […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm