View more on these topics

In Partnership sets target of 1,000 advisers

IFA In Partnership is looking to raise cash to help it double adviser numbers to 1,000 by the end of next year.

The network has 500 advisers but wants to have 750 by the middle of next year and 1,000 by the end of next year, In Partnership plans to float the company in the next three years.

It says it needs to recapitalise to get its numbers up to 1,000 and is looking at whether this can be achieved through providers taking equity stakes in the business, through merger or through bank loans.

It has not ruled out a merger and says it is in exploratory talks at present.

In Partnership made a profit in February, three years after its launch, and saw off a takeover bid from founding director Shin Yamada last year.

Chief executive Kevin McDonagh says: “We have reached 500 advisers and will need to recapitalise to get up to our aim of 1,000 advisers through providers taking stakes, consolidation or bank loans.”

Recommended

Death of Dennis Gamester &#39the original pension guru&#39

The original pension guru Dennis Gamester has died at the age of 57. Gamester worked for Hambro Life and Schroder Life before joining Skandia in May 1989 as pensions director. He later joined Scottish Mutual as technical development director, leaving the firm to work as an independent pension consultant. Gamester was probably best known by […]

ARs should submit multiple network applications – PMN

Intermediaries looking to become an appointed representative should consider submitting membership applications to at least three mortgage networks in order to ensure they are able to continue trading from M-Day, according to PMN. PMN believes that as many as 20 networks won&#39t be in a position to offering full network facilities to members by October […]

&#39With-profits providers may have overlooked liabilities&#39

The FSA is warning life insurers that they may not be recognising all potential with-profits liabilities, particularly for older products. The regulator has written to the chief executives of all life insurers and friendly societies about its review of processes, systems and controls for with-profits insurance contracts. The letter highlights two main concerns – that […]

National Savings want IFAs to advise £1m Ernie winners

National Savings and Investments is looking for IFAs to provide financial advice to the monthly £1m winner of its premium bond prize draw. Its current contract with a provider with an independent advice arm is coming to an end and it is looking for a firm to provide advice to its monthly £1m winners for […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com