View more on these topics

Medical deal is just the tonic for Skipton

Skipton Building Society&#39s IFA division has bought Hertfordshire IFAs MIA Financial Services and the MIA group for an undisclosed amount.

The deal for MIA, which specialises in providing advice for medical and dentistry professionals, increases RI numbers in its IFA division Skipton Financial Services from 85 to 140.

Skipton estimates that the MIA deal will increase turnover to £20m from £12m by the end of 2003.

This is the first move in a distribution acquisition programme. Skipton group intends to acquire two or three more businesses with a similar £5m turnover by the end of the year.

Skipton started its distribution expansion in January with a 75 per cent stake in IFA Pearson Jones.

It is looking to buy fee-based practices or businesses with a strong brand and regional presence.

Skipton Financial Services managing director Simon Holt says: “The programme is not a driving force to obtain RIs but we need to increase the scale of the business. Two or three years down the line, there will only be 15-20 major distributors and we want Skipton to be at the top table.”

MIA chief executive Martin Leadbetter says: “MIA&#39s ambitions will be better achieved as part of SFS, which can provide the necessary financial muscle, management and support services needed to reach its full potential.”


nvesta – Super Tracker 30 Plan

Monday, 7 April 2003 Type: Capital protected bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £3,000-£2m Term: Six years Guarantee: Original capital returned in full providing index does not fall by more than 50% Return: 30% – 100% of growth in the FTSE 100 index at end of term […]

Removing the tax charge on certain group life policies

A group life policy is one that insures the lives of a group of individuals and pays benefits on each death. Multiple payments of death benefits can lead to unintended charges to tax on either the lives insured or the policyholder. This is because a policy which can pay benefits on the death of more […]

Qualifying policies charging for an exceptional risk of disability

When the terms of a qualifying life insurance policy are improved because the insurer discovers after it has sold the policy that it is not appropriate to charge for an exceptional risk of disability, the change in the policy&#39s terms can cause it to lose its qualifying status. This has never been the case where […]

Saving the day

The culture of spend, spend, spend seems to be here to stay.A recent report suggests the combined pension statement may have little effect in encouraging a culture of saving. Trials launched in autumn 2000 show more than 90 per cent of people have failed to act on the statements which, as expected, overwhelmingly show people […]


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