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Park Row talks with 2plan collapse

Park Row has ended exclusive talks with 2plan Wealth Management after failing to agree satisfactory terms.

Park Row says it remains committed to an orderly transfer of its 240 advisers to an appropriate firm as it continues to take steps to wind down the business.

Advisers will be invited to roadshows in their respective regions to assess the options open to them.

Park Row has confirmed that it has undertaken all necessary consultation periods and all its employees have been put on risk of redundancy.

Money Marketing first revealed that the firms were in talks last month. 2Plan has around 180 advisers but that would have risen to 420 if the deal had gone through.


Fund business hits August record

Investment Management Association figures show net retail sales for funds reached £2.2bn in August, a record for the month and up dramatically on £58.7m in August 2008. Equities took £696m followed by corporate bonds with £338m and the UK absolute return sector £235m.

‘How to…audit your auto-enrolment scheme compliance’

Avoid pension penalties with our auto-enrolment checklist

According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.


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