View more on these topics

Personal Touch and Tenet in talks with Park Row

Park Row has announced that it has agreed for Personal Touch and Tenet to present their propositions to its advisers in roadshows next week.

The move comes just days after Park Row announced that it has ceased exclusive talks with 2plan Wealth Management for the transfer of its 240 advisers to the firm.

Park Row chief executive Peter Sprung says: “Over the past couple of years we have worked hard at Park Row to restructure the business to suit the changing UK marketplace. We have great advisers and we had built a quality support structure, but the circumstances now are that we need to wind down the business.

“So aside from sadly winding down our operations in accordance to the necessary consultation procedures, much of our focus is on seeking to transfer our advisers to a quality IFA networks.

“We could not come to the right outcome with 2plan, but we are pleased by the interest of Personal Touch Financial Services and The Tenet Group We hope our advisers will make the most of the roadshows we have organised this week. We believe these firms will offer advisers a good choice of options.”

Tenet group distribution and marketing director Keith Richards says: “We are delighted to have been invited by Park Row to update their advisers and address any questions whilst at the same time present alternative business solutions for the future. We have always respected Park Row and we hope that Tenet will offer its advisers an ideal solution to continue their long career in financial services.”

Recommended

Take a fixed view

As newsflow and sentiment change through economic and investment cycles, investor demand for different asset classes ebbs and flows. This, in turn, drives changing relative performance trends through the cycle. The credit crunch period since the summer of 2007 has been more extreme than the cycles of recent history but ultimately it has been no different in its influence on demand and performance.

Eagle eye on pension prize

Minister of state for pensions and the ageing society Angela Eagle is unfazed by what she calls the “scare-mongering” of the pension industry and opposition parties who are calling for reform of public sector pensions.

Europe 2017: Value, large-caps & liquidity

Joshua Ausden, Head of Client Investment Strategy, Neptune Read more here Important Information – for Investment Professionals Only. Not for Retail Clients.Investment risksNeptune funds may have a high volatility rating and past performance and forecasts are not a guide to future performance. These are Neptune’s views and as such this document is deemed to be […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. Rearranging the deckchairs…
    The advisers should consider their options very carefully.

  2. Personal Touch and Tenet in talks with Park Row
    From what I know of Park Row, they set high standards for their advisers, but what may well have weakened the firm’s ability to weather a prolonged downturn in new business is a failure to have built a sufficiently strong recurring and non-indemnity revenue stream. Then again, the regulatory requirements on all IFA businesses these days are so onerous that it can hardly take much to turn a slender profit into a terminally corrosive trend of sustained losses. Still, as far as the FSA is concerned, everything’s going according to plan. And there will be others, you can bet on it.

  3. Craig Jarvie www.realitymortgages.com 6th October 2009 at 11:25 am

    Personal Touch and Tenet in talks with Park Row
    We have recently Joined Personal Touch Financial Services from being Directly Authorised and what I can say is for any Advisers who are trying to rebuild and find new ways of attracting customers Personal touch offer excellent marketing help combined with a very good technology in the Toolbox system offering a paperless fact find and compliance help.

Leave a comment