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IFAs threaten to leave network

Misys IFA network members are expressing concerns that its flotation plans could see their own margins squeezed further, prompting them to reconsider network membership.

Some substantial IFA firms are understood to be considering leaving the network in response to the announcement. They warn providers could invest directly in network firms, taking Misys out of the loop.

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Inter-Alliance buys HST

National IFA giant Inter-Alliance is paying £12m for network and IFA group HST Financial, boosting its RIs to 1,300.Norwich Union and Friends Provident are pumping £10m into Inter-Alliance, half of which will go towards funding the deal.HST Financial chief executive Phil Lockyer will remain in control of operations at HST. Its Host IFA, Sage network […]

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“Yes. But thank goodness these are only proposals. There are some very sensible proposals but the terminology needs a sanity check. It doesn&#39t seem workable that tied agents who may give very good advice can&#39t be called advisers. I like the idea of remaining independent and want to be called an adviser so in theory […]

Death of UBS retail sales chief Simon Goodge

The investment industry has paid tribute to Simon Goodge, the head of retail sales at UBS Asset Management, who has died in a road accident.Goodge, who was killed while riding his motorcyle to work on July 5, has been praised by colleagues for his optimism, commitment and enthusiasm for his job, qualities they say made […]

Combined bond from West Brom and NU

West Bromwich Building Society and Norwich Union have teamed up to offer a new combined investment and bond portfolio with a fixed rate of 8.50 per cent on investments of £25,000 or over.The rate is fixed until July 31, 2003, with 70 per cent of the bond invested in an NU Portfolio Bond and the […]

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