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IFP back in black and repays directors

The Institute of Financial Planning says it made a surplus of £84,000 in 2009 and has paid back two directors who loaned the trade body £75,000 in 2008.

The IFP made a £108,000 loss in the year to December 31, 2008 and borrowed money from directors to help pay for its conference.

It borrowed £50,000 from Bluefin Wealth Management financial planner Marlene Shalton and £25,000 from Direction Financial Planning principal Jane Wheeler at an interest rate of 6.5 per cent. Both were members of the IFP board at the time.

Shalton was this week appointed as IFP president and Wheeler, now a former IFP director, sits on the Financial Planning Standards Board.
The IFP says it is currently £50,000 in surplus for the first eight months of 2010.

Speaking at the IFP annual conference in Newport this week, IFP director Barry Horner said that the organisation now aims to increase its membership and run a significant cash surplus.

He said: “We are starting to broaden out our membership. We are seeing interest from groups of individuals who would never have thought of the IFP before.”


Lighthouse Group revenues jump 11 per cent

Lighthouse Group has posted pre-tax profits of £117,000 for the first half of 2010. The return marks a 108 per cent increase from the £56,000 made in the first half of 2009. Lighthouse Group has also posted an 11 per cent increase in revenues to £32.6m for the first six months of 2010. The group […]

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The first of the Money Marketing Business Transition round tables brought together disparate experts with very different histories. Naturally, the discussion was lively in places, but there was a surprising amount of consensus over the value that advisers need to bring to clients. In the past, the system has set many advisers in conflict with […]


‘Chartered brand to gain dominance’

Personal Finance Society president Eddie Grant says the chartered brand will replace the independent label as the premium level of financial advice in the eyes of consumers. Grant, who is a wealth solutions sales manger at Zurich, was appointed as PFS president at the body’s annual conference in Coventry this week. He says the chartered […]


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