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Skandia takes stake as Park Row relists

Birchin International, the financial services investment firm which reversed into Park Row last month, is relisting as Park Row Group as Skandia Life takes a stake.

The firm is also in discussion with other product providers about selling a further one or two stakes after Skandia took a 5 per cent share in the Aim-listed company.

The deal gives Park Row the benefit of an Aim listing without the cost of flotation, making acquiring further IFAs easier. The group says it is in talks with a number of IFA groups.

Park Row will retain the Birchin Wealth Management name for its fee-based IFA arm targeting high-net worth clients while operating an authorised financial adviser for the more mass affluent market if the FSA&#39s depolarisation proposals are adopted. It says its AFAs will be offering products on the whole market and that Skandia and other provider partners will not be guaranteed any distribution.

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