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Profit alert from Inter-Alliance

National IFA Inter-Alliance has issued a profit warning to the City, blaming market conditions and litigation.

The Aim-listed IFA says it does not expect to be back in the black until 2003.

It believes the FSA&#39s depolarisation plans are a “major opportunity for the company”, fuelling speculation of a takeover by a major provider.

Money Marketing revealed in October the firm had discussions with American Express about a possible buyout.

Inter-Alliance says it has been hit by the economic slowdown and the expense of a long-running court case.

Fewer than 250 RIs joined from the 1,400 targeted in last year&#39s deal with Prudential. It now has 1,263 RIs compared with 584 before the deal.

An Inter-Alliance spokesman says: “We are not formally up for sale. There will be a statement about our future strategy in the next few weeks.”


Verity&#39s view – 24th January 2001

So that&#39s it then. For all these years an industry employing hundreds of thousands, plus all the associated civil servants, company managers and hangers on have been referring to “independent financial advice” like it was a good thing.The FSA itself has consistently urged people to seek independent financial advice. Poor old IFA Promotion has spent […]

Cut against the bias

One of the primary arguments made in the FSA&#39s consultation paper 121 which proposes scrapping polarisation is that there is commission bias at work in the IFA sector.It uses this as justification for a radical overhaul of the way that independent advisers are remunerated, which would force IFAs to charge fees and rebate commission.However, the […]

DTI commits £5m to addressing the work-life dilemma

The Department of Trade and Industry is spending £5m to address what it calls the work-life balance problem.The cash will help companies to implement policies that deal with long hours, rigid shift patterns and absenteeism, which the DTI says hit productivity.The Work-Life Balance Challenge Fund provides free consultancy support worth up to £55,000, allowing organisations […]

ABI expands media relations team

The ABI is expanding its press team. with the appointment of two new members.Emma Grainge joins from Marks & Spencer Financial Services and Leonie Edwards from Gavin Anderson & Company.Both will work alongside assistant media relations manager Malcolm Tarling and report to head of media and political affairs Alan Leaman.

Life cover for life

Jennifer Gilchrist Proposition Lead – Design, Royal London When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax planning tool for high-net-worth clients. And it’s really not surprising they’ve been pigeonholed in that way because before the arrival of RDR in 2013, that’s more […]


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