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Profits triple for Positive Solutions

Positive Solutions has seen a 98 per cent increase in turnover, bringing business in the first quarter of the year to 15m from 7.5m in the same period last year.

First-quarter profits rocketed by 305 per cent to 1.5m from 490,000.

The firm’s annual report, published this week, also shows an increase in the number of its IFA partners from 750 to 1,100.

The firm puts its growth down to the quality of the IFAs it has on board and expects to be well on tar- get for hitting its busin- ess objectives.

Chief operating officer Neil Johnson says: “We are not a plc so we are not obliged to release our reports publicly.

“However, we have always believed that an IFA organisation should be transparent in its dealings with its stakeholders.

“These figures reflect our best quarter yet and confirm that we are on track to meet our business objectives through an efficient model enabled by technology.”


Select switch at Threadneedle

Phil Cliff is to take over from his boss, Darrel ODea, as manager of Threadneedles European Select Growth fund. Cliff has been number two on the team and currently also manages Threadneedles pan-European Accelerando fund. He will now switch roles with ODea, who becomes deputy manager on the select growth fund.

Goy Harris Cartwright in fixed-weight revamp

Goy Harris Cartwright is relaunching its managed portfolio service as a range of fixed-weight portfolios with a new risk-grading system and a 1.25 per cent annual management charge. The system is intended to make it easier for clients to choose the strategy that is best suited to their investment needs and appetite for risk. Three […]

Pru ties up National Australia Bank annuity deal

National Australia Bank has signed up Prudential to provide annuities and healthcare products for distribution through NAB’s Clydesdale and Yorkshire Bank networks.The annuities deal is a single-tie arrangement and kicks off on 31 May for a five year term. The deal will also see PruHealth PMI products sold through NAB’s banking network as the first […]


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