View more on these topics

Money Portal open to outright sale

Money Portal has confirmed it is open to an outright sale following a strategic review.

The firm says it is considering a capital restructure after being approached by potentially new and existing shareholders.

It has appointed Fenchurch Advisory Partners to review and evaluate investment proposals. The process is expected to take 10-12 weeks.

Group chief executive Mark Lund says: “We have received a number of unsolicited approaches from both an existing shareholder and potential new shareholders keen to invest money in Money Portal’s business. The board has therefore commenced a strategic review of its business and preliminary discussions with existing stakeholders that may lead to a capital restructuring.

“The board has chosen to get some specialist help from Fenchurch to evaluate what we should do with the proposals and what our response should be. We are flattered to receive these proposals which we believe underpin the potential of the advice sector.”

Fenchurch Advisory Partners managing director Richard Locke says: “We are at the early stages and are open minded about a range of possible outcomes.”

Group head of strategy and distribution Alan Easter added: “We have to act in the best interests of our shareholders so by definition that means we have to consider everything that the board believe would be of interest to our shareholders.”

The firm denied the move was influenced by former directors wanting to realise their shares in the company.


Schroder Income Maximiser switches sectors

Schroders has moved its Income Maximiser fund into the UK Equity Income sector to compete with similar vehicles recently launched by other groups. The fund was placed in the Specialist sector when it launched in 2005 because it was the only vehicle of its kind and to make sure investors were comfortable with the style […]

India budget: BJP focuses on growth

By Kunal Desai, Head of Indian Equities

With markets kept open on Saturday, finance minister Arun Jaitley delivered a promising budget focused on growth and decentralisation. While many complained about a six-day working week, there was much to be pleased about and the markets rallied in the afternoon to finish in the green.


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