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Park Row says there is no case for going multi-tied

Park Row IFA will not be taking the multi-tie option after a six-month review with its brokers because it says it cannot see a business case for it.

The firm says a review of its strategic direction has analysed the multi-tie option but concluded that it sees little benefit to its business model, brokers or clients.

Park Row says it will continue to look at multi-tying but does not think the benefits will be made clear within the next 18 months.

Head of business development Jo Smith believes the difficulties with multi-tying stem from having to deal with several different companies at once. She says if there was a technical consolidation or transactional platform incorporating all stages of a multi-tie operation, the option would be more satisfactory.

Destini Group operations director Jon Everil says the window of opportunity to enter into a multi-tie proposition is open and will rem-ain open for six-12 months. After that, it may be difficult to break in from scratch.

Everil says: “Multi-tie brings back the ability to sell into the mass market with cheap and efficient products. If a firm wants to rem-ain niche, it is up to them.”

Smith says: “We think multi-tie is often seen as nirvana for firms in terms of sorting cashflow issues but we think multi-tie just does not deliver value.”


Close Finsbury Asset Management – MultiAsset Portfolio

Type: Oeic multi-manager fund of funds Aim: Growth by investing in equity funds, bond funds and alternative investments including commercial property and hedge funds Minimum investment: Lump sum £25,000 Investment split: 36% UK equities, 12% fixed interest, 10% US, 10% commercial property, 8% structured investments, 8% hedge funds, 6% Europe, 5% Japan, 3% natural resources, […]

Shaken image

The James Bond-themed Money Centre Charity Ball at the Hilton Hotel in Norwich attracted more than 160 guests and raised £6,500 for the East Anglia Air Ambulance and East Anglia Children&#39s Hospices. Guests included NatWest, GMAC-RFC and Mortgage Express. The event was filmed by Shine TV for a documentary on the working British to be […]

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Post-sale cash should go to the serving adviser

I refer to Roger Yates&#39 letter (Money Marketing, September 16) on the subject of renewal commission. As someone who joined the industry in 1970 – before Lautro – I was always taught that renewal commission was paid as an incentive to agents to service the client&#39s ongoing needs and, as a result, hopefully produce further […]


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