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Nationwide 20m deal to sponsor England

Positive Solutions is looking to set up a fund platform by the end of March 2007.

Positive Solutions advisers use all the major platforms but the firm says it aims to create its own proposition.

Executive chairman David Harrison says a truly independent adviser cannot favour a single provider-owned proposition but does need access to an open architecture platform.

Harrison says: “There are technical and political challenges to face. We would struggle to best meet the needs of 1,450 advisers if we just used one platform.

“The ideal from the IFAs’ point of view would be to join up all existing platforms and consolidate them. We hope to have something ready to test by the end of the tax year.”

Positive Solutions’ turnover in the first six months of the year rose by 38 per cent to 48m compared with the same per-iod last year and it expects this to grow to 100m in the second half of the year. Adviser numbers increased by 300.

Harrison says: “We are confident we can integrate growth by acquisition but so far it has been a distraction. It is not just about price – the firm has to be the right fit as well. Our real target, who our model best suits, is smaller directly regulated IFAs turning over 100,000-200,000.”


AMI wants option F for FOS funding

The Association of Mortgage Intermediaries has confirmed it is against the current funding model for the Financial Ombudsman Service and is calling for option F in the review of the funding for FOS. Aifa is calling for option H.

ICSA joins debate over Big Four dominance of audit market

The Institute of Chartered Secretaries and Administrators has entered the debate regarding the dominance of the Big Four accounting firms in the UK audit market as it voices support for a wider availability of choice.In response to a discussion paper issued by the Financial Reporting Council entitled Choice in the UK Audit Market, the ICSA […]

Good first half for Burns-Anderson

Burns-Anderson made a profit of 330,000 for the first six months of this year, beating the company’s annual profits for 2005. The firm says it has increased its capital adequacy by 75 per cent and claims to have almost paid off the 500,000 loan it received from Norwich Union.

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Thinking of expanding overseas?

Whether you’re a small company or an established larger employer, expanding overseas into emerging markets can be an extremely attractive prospect for growing your business. However, with this comes a duty-of-care requirement to any staff based overseas.


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