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.”