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Intelliflo completes MBO from Millfield

Millfield has agreed a management buyout of Intelliflo for £250,000 following the merger with Inter-Alliance which previously owned the technology company.

Millfield says the MBO, led by Intelliflo chief executive Nick Eatock, will save it £375,000 a year.

Millfield Group and Inter-Alliance merged in October to form one of the biggest UK IFAs with around 1,800 advisers.

Intelliflo was absorbed into Inter-Alliance in 1997. Its Intelligent Office package, which provides a range of functions to help with client management, was launched in September 2003.

Millfield chief executive Paul Tebbutt says: “The MBO is in line with our goal of focusing on our core strategy. Millfield retains the intellectual property of Atlas for our own back-office software development. Nick and his team are now free to develop new products and service their existing and potential clients.”


Horlick will head new consultancy

The co-founder of SG Asset Management, Nicola Horlick, has taken the helm of newly-launched multi-management consultancy Bramdean Asset Management. Horlick will be chief executive of Bramdean, which is being backed by private investors and will start business this month, subject to regulatory approval. The firm has appointed Sir Derek Higgs as chairman and will have […]

Rumours end as BM make Bolton MD

Mortgage heavyweight Michael Bolton has been promoted to managing director of BM Solutions after months of speculation over his possible departure. Bolton is understood to have been approached by several big lenders but has confirmed he will be staying with BMS in the new role. The former head of mortgages at the specialist lender will […]

Britannic buys Allianz Cornhill life firm

Britannic Group has bought the life operations of Allianz Cornhill Insurance. Britannic completed the purchase of the subsidiary on December 31, 2004 on terms agreed at the start of initial negotiations.It paid £93m as an initial consideration and a final undisclosed sum will be paid once a completion valuation has been undertaken.


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