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Sedgwick shuts down mortgage operation

Sedgewick Independent Financial Consultants has shut down its mortgage operation to concentrate on selling stakeholder pensions. Sedgewick is currently in negotiations to outsource its mortgage business to a specialist IFA, but says it has no plans to reopen its own department due to low demand and falling margins. It claims stakeholder will generate higher levels of business than mortgages at better rates of return.

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Skandia&#39s decision to introduce a higher commission level for IFAs who choose to submit Isa business electronically to its Multi-Fund Shop is a positive and entirely appropriate step in the advancement of electronic trading. It is widely known that the initiatives in the life and pension arena that are proving most successful are those that […]

Networks offer deals to lure Pru sales staff

At least two IFA networks are offering ex-Prudential sales staff special deals in a bid to woo them away from national IFA Inter-Alliance. Letters obtained by Money Marketing reveal that Bankhall and Positive Solutions have negotiated reduced network rates for Pru employees who were made redundant last month following the company&#39s decision to close its […]

Buy-to-let market thrives outside London

Buy-to-let properties outside London and the South-east can provide double the rental returns seen in the capital, according to the Association of Residential Letting Agents. Although average rental returns across the country have fallen from 7.6 per cent to 7.3 per cent in the last six months, one in 10 Arla member is reporting returns […]

Superstars&#39 IFA buys rival

Sports star specialist IFA Kingsbridge Holdings has bought local rival Benson McGarvey in a deal worth £13.5m in cash and shares.Kingsbridge has now purchased five firms since it was launched on Aim last July. Kingsbridge includes football stars Andy Cole, David O&#39Leary and David Ginola as well as golfer Lee Westwood as clients.

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