View more on these topics

Misys &#39open to offers&#39 for its IFA business

Misys approached major providers to discuss selling its financial services business outright in the last two months, according to senior sources at the providers.

Two weeks ago, Misys told the stockmarket it was committed to its IFA businesses and was in talks with several providers to look at its future options.

The options under discussion were believed to have been providers taking stakes and the setting up of a more limited multi-tie business alongside an auth-orised and independent offering to members.

But the news that the whole business was up for sale only a few weeks ago will intensify speculation that Misys is interested in selling off the IFA arm if the offer is big enough.

Some providers remain convinced that bids are already on the table from some of the UK&#39s biggest insurance players, with speculation focusing on Axa and Norwich Union.

Sources say Misys would be keen to keep any deals under wraps following the reaction of some Bankhall members after the network was sold to Skandia.

A source says: “It is happening. Senior executives have made it clear they would be interested in entertaining a bid. Misys would want to do a deal before its membership gets wind of it.”

A Misys spokesperson says the company remains committed to its IFA business.


Scottish Equitable cutting charges on new pensions

Scottish Equitable is cutting charges on new pensions and drawdown contracts by offering new customers a rebate on the annual charge.Individual and group pension policies taken out from March 1 will get an annual rebate of 0.25 per cent when the fund exceeds £50,000. This effectively reduces the AMC to 0.75 per cent.This will apply […]

CMIM recruits fund manager to European Equity team

Clerical Medical Investment Management, the asset management arm of Hbos has announced the appointment of Richard Wiseman as portfolio manager on its European Equity team.Wiseman was previously with HSBC securities, where he was a general salesman on the panEuropean Equity desk. CMIM head of European Equities Roisin Magee says: “Richard enjoyed considerable success as a […]

IFA in plea for common ADLs

The long-term care industry needs to agree on common terms and conditions to prevent consumers from being confused by the thresholds for a successful claim, says a leading LTC IFA.Definitions of the activities of daily living vary from provider to provider, making it difficult for eld-erly consumers to understand what they mean and for IFAs […]


“I would prefer none at all but we will proceed irrespective of regulator.”Ivor Woodroofe,Riverside Financial Services “No, I think the FSA is bad enough as it is. I think if we had a European supraregulator it would have to deal with all the regulation in all the countries and you would end up with the […]

Pensions - thumbnail

Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.


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