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Savills branching out with plans to build income by 70%

Savills Private Finance has opened offices in Newcastle and Exeter and plans to increase its income by around 70 per cent over the next three years.

The broking firm now has 24 offices across the country employing 127 consultants. Income was £30m last year and it expects this to grow to £50m in the next three years despite the tough market outlook.

It recently started a self-build division, headed by Calum Kerr, which will soon be announcing some exclusive products with lenders.

Director Melanie Bien says: “National coverage is very important to us as we pride ourselves on our highly personalised face-to-face service. Clients can call on a local consultant with knowledge of their area which is different from dealing with a faceless name at a call centre.”

Managing director Mark Harris says: “Despite the tough market outlook, we remain optimistic because there will be a flight to quality. Clients need advice more than ever and we are well placed to provide that.

“Income for 2007 was £30m. Our strategy remains to grow to £50m over the next three years. We believe it is a good time to be pushing for growth and remain committed to offering a first class face-to-face service.”


FSA to review rules on comparison sites

The FSA is to undertake a review of the rules that govern insurance comparison websites following pressure from Biba. It will look into whether the guidance given by the sites constitutes advice.

IMA attacks Nat Savings bond claims

The Investment Management Association believes National Savings & Investments is misleading customers in marketing its guaranteed equity bonds.In its response to a European Commission investigation, it disputes NS&I claims that “thousands of investors are playing the stockmarket without risking a penny”. It compared the first three issues of NS&I GEBs with three leading UK index-tracking […]

Duffield pledges changes after New Star nightmare

New Star’s share price nosedived last week after it issued a profit warning following a £1.6bn loss in the second half of 2007.The share price fell as low as 82p on Friday, after closing at 147p the night before, as the credit squeeze and downturn in the UK commercial property market forced the firm to […]

NU academy offers support for diploma

Norwich Union is setting up an academy aimed at helping financial advisers pass the Chartered Insurance Institute’s diploma in financial planning or equivalent.NU says the academy, which launches in March, will help advisers move towards the standards and professionalism required by the retail distribution review.The academy will be free to advisers but those who want […]


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