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Skandia puts in £210m bid for Bankhall parent Lynx

Skandia has put in an offer for Lynx Group, Bankhall&#39s parent company, saying it wants to “expand the depth and range of support services to IFAs in the UK.

Key Bankhall management will remain with the company and will own 14 per cent of the shares. The bid, announced at 7am this morning on the London Stock Exchange, is for £1.20 a share and values Lynx Group at £210 million.

Skandia executive vice president Alan Wilson says: “This acquisition is entirely in line with Skandia&#39s global strategy of expanding and deepening our co-operation with financial advisers.”


Discounters set to feel bite from falling business

Plummeting trail commission and a dive in new business volumes are set to throw many of the newest discount brokers into financial crisis this winter.Poor market conditions over most of the last two years have started to eat heavily into trail revenues, while a fall in advertising by fund managers combined with low investor confidence […]


£1.7m buys NU stake in Inter-Alliance

Norwich Union has continued its spree of buying stakes in IFA firms by taking a 4.7 per cent share in Inter-Alliance for £1.7m.The life company confirms it is in discussions with other IFAs and says it only takes stakes in listed companies.Norwich Union has spent £12m so far buying up shares in IFAs and has […]

Heavy petting

Last week, in the wake of the silence on inheritance tax in the Chancellor&#39s pre-Budget speech, I considered the prospects for future change to the now relatively well knownIHT regime.I considered, in particular, the possibility of an increase in the nil-rate band as a fairly simple but effective proposal.Current best practice on IHT planning for […]

Members not fearful for independence under Skandia Bankhall deal

Bankhall members say their independence will not be compromised by Skandia’s takeover of their network.But some members say they may be less likely to recommend Skandia products as a result of the deal to avoid any accusations of bias.One Bankhall member says: “Whoever owns us should not compromise our independence and should not make any […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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