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Inter-Alliance reports £2.1m loss

National IFA Inter-Alliance has reported a loss of £2.1m for the six months ending June 30, a sharp fall from a profit of £0.7m in the same period last year.

The IFA says the loss, which excludes the cost of integrating recruits from the Lincoln and Pru sales force, is due to substantial investment in its infrastructure to cope with the growth in number of RIs to 1,035 from 631 last year.

But Inter-Alliance saw its turnover increase by 91 per cent to £26.2m from £13.7m for the first six months of last year and a 20 per cent increase in annualised income per practitioner to £72,000 from £60,000


Equitable lawyers divided on size of misselling liability

Equitable Life’s legal advisers are split on the size of potential mis-selling claims the life office could face from policyholders.The findings of Equitable’s legal team, which includes a report by Nicholas Warren QC and other lawyers working on the compromise deal, will be published this week alongside details of the scheme. The Board wants to […]

Positive Solutions nearing 500 RIs

IFA network Positive Solutions has almost doubled its total of registered individuals to 400 from 227 in January and claims it is on course to reach 500 by the end of the year.It says reaching the 400 threshold marks the advent of the firm as a major player on the UK IFA scene.Targeting former direct […]

Bristol Contrib Welfare appoints 2 marketing chiefs

Bristol Contributory Welfare Association Healthcare has made two senior level appointments in its marketing department.Howard Hughes joins as sales and marketing manager after 15 years with Bupa where he was marketing and development manager for dental cover.Andrea Bridgeman is going to BCWA to take charge of day to day marketing activity from Clerical Medical International […]

NU kids on the £20m starting blocks

Norwich Union is backing UK athletics with a five-year £20m sponsorship deal which covers the British team and major domestic televised meetings.More than £4m will be invested in grassroots development initiatives to encourage young people into athletics.Pictured at the Thames Valley Sports Centre, Eton are (left to right): Philip Scott, Chief Executive of Norwich Union […]


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