A leading IFA analyst believes news that IFAs Berkeley Berry Birch and Inter-Alliance have called off a deal to merge will see Inter struggle to find another buyer.
Durlacher analyst David Pannell says: “Given the amount of time the deal has taken to negotiate I'm not surprised. It could be due to insufficient cash to fund the deal or it could be something uncovered in the due diligence.
He says: “BBB still has the same strategy issues it had before it started talking to Inter-Alliance – namely how to grow profits. I would suspect that Inter has severe cash problems and having now been jilted at the altar will struggle to find another partner.”