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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.”

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