View more on these topics

Millfield loses star duo to Tenet’s IFA

Millfield Partnership has lost its two top-performing advisers to newly established Tenet IFA Foster Denovo.

Tenet claims that the two teams led by Paul Clarke and Darren Laverty were the top- producing Millfield IFAs in 2004 and 2005, with both achieving a turnover of over 1m in each year. Both are on target for generating over 1m of business in 2006, according to Foster Denovo chief executive Keith Carby.

But Millfield chief executive Paul Tebbutt says he is unconcerned, pointing out that Laverty and his business partner Mark Bingham were terminated by the group in Oct- ober, leaving them free to join any other firm.

Tebbutt says Clarke and his partner David Pugh left on amicable terms and that he is sick of firms knocking rivals to promote their businesses.

He says: “If a firm is offering a proposition that is more suitable for an adviser’s needs, then I wish them the best of luck. I do not really see how a start-up could even be compared to a firm the size of Millfield.”

Foster Denovo managing partner Roger Brosch says: “The appointment of these top-quality new partners gives us almost certainly the highest per capita productivity of any scaled IFA in the UK.”


The return of equities

Equities bounce back but tied agents continue to sell corporate bond funds

Brokers look for rate reductions

There is growing speculation that interest rates will fall despite the monetary policy committee’s decision last week to keep bank base rate at 4.5 per cent for the fifth consecutive month. Some commentators believe there is an compelling argument that rates should be lowered. Rates were last reduced in August 2005 by 25 basis points […]

Move to aid senior execs with pre-retirement plan

Park Row is teaming up with Ashridge Business College to develop a pre-retirement planning programme for senior business executives. The retirement planning courses will include prepar-atory advice on financial, health, dietary, lifestyle and relationship matters. The courses are being marketing directly to human res-ources professionals and the pensions trustees of FTSE 250 companies. Experts from […]

Treasury took no account of Sipp investors’ plight

The Treasury forced through the property Sipp U-turn without even considering the consequences for the financial services industry, says a Tory Shadow Treasury minister. Fareham MP Mark Hoban says Treasury Economic Secretary Ivan Lewis’s admission that the Treasury made no estimates on the number of Sipp investors making off-plan purchases of residential property shows the […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]


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 thought leadership.

    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