View more on these topics

Kingsbridge set to sell its last two IFA firms

IFA group Kingsbridge Holdings is in talks to sell its two remaining IFA subsidiaries, Benson McGarvey and Kingsbridge Advisers.

Nottingham-based Benson McGarvey managing director Peter McGarvey is pursuing an MBO, which has six RIs. McGarvey has resigned as a Kingsbridge director.

Kingsbridge Holdings says it is in talks that may lead to the sale of the other subsidiary, Kingsbridge Advisers, a Scottish firm with three RIs.

Kingsbridge Holdings says it is also in discussions with a company that it could possibly acquire but will not comment on whether it is another IFA.

In a stockmarket announcement, it says: “Should the discussions relating to Benson McGarvey and Kingsbridge Advisers lead to the sales of these two companies, Kingsbridge would become a quoted shell. However, the company is in discussions with an interested party which may lead to an acquisition, which is likely to be classified as a reverse takeover so that shareholders may obtain some future benefit.”


Clerical Medical buys in bulk

Clerical Medical has brought out a S32 bulk buy-out plan to take advantage of opportunities within the pension transfer market as a result of the trend for the winding up of final salary schemes. Clerical Medical says final salary scheme wind-ups are being driven by factors such as restructuring within companies, mergers and takeovers, management […]

Summer fund sales stay hot with buoyant July

Investment fund sales rose by more than 50 per cent in July compared with the same month last year. Investment Management Association figures show that net retail sales hit £863m last month, slightly down from £870m in June which had seen a big rise but significantly up on the £567m reached in July 2002. Net […]

ABI and GISC in dispute As PMI code is delayed

A row has developed between the ABI and the General Insurance Standards Council over delays to the implementation of a statement of best practice for the private medical insurance industry. Each organisation is blaming the other for the hold-up. Last year, the GISC decided it wanted to design and run the code. As it was […]

Clerical Medical – Trustee Buy-Out Solutions

Type: S32 bulk buyout plan Minimum premium: £3,000 per scheme Minimum group size: Two Minimum-maximum ages: 16-74 Fund links: Clerical Medical funds: balanced managed, cautious managed, adventurous managed, non equity managed, international managed, UK equity, equity high income, ethical, UK equity tracker, global equity tracker, UK smaller companies, European, Japan, North America, Pacific, cash, gilt […]

What are the key changes to transform pensions?

By Fiona Tait, pensions specialist In her final article for Royal London, Fiona Tait reviews key changes she believes have transformed, or will transform, pensions. In my 12 years with Royal London I have been paid to review, study and explain the numerous changes to pension legislation which have transformed our industry in that time. This is […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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