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Sourcers should carry KFI onus

The Association of Mortgage Intermediaries’ Juuly census shows that 57 per cent of 252 intermediaries polled believe sourcing systems should be responsible for provided in KFIs. Fifty-two per cent say sourcing systems are still their preferred method of obtaining KFIs.

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Route 2 goes into administration

Shamed former Royal Liver sales manager Chris Large’s new firm has gone into administration following what is understood to be regulatory problems with the FSA. Macclesfield-based Route 2 Solutions went into administration on July 18 after moving into its “prestigious new offices” only five weeks earlier. Director Chris Large was sacked from Royal Liver after […]

Foreicn Currency Direct seeks IFA partnerships

Foreign Currency Direct plc is seeking to establish relationships with financial advisers through a commission-based referral scheme. For each client referred to FCD – the foreign exchange brokerage where a deal is actually processed, the adviser will receive a commission paid as a percentage of the brokerage earned.Commissions will be paid quarterly, including a full […]

Millfield sells its 25% stake in Lifetime to NU

Millfield has sold its 25 per cent stake in the Lifetime wrap to Norwich Union for 9m, with an extra 6m potentially payable if targets are met. Millfield was one of the original investors in Lifetime in 2002, ploughing 3.25m into the platform. The deal now values the platform at 36m. NU’s stake has increased […]

Prestbury in network talks

Prestbury is looking for acquisitions and is in talks with a number of mortgage networks with deals set to be announced by October. It says it completed a record 130m worth of new mortgage business in July.

Mark Page: why my biggest overweight stock is a discount Spanish retailer

Artemis European Opportunities Fund manager Mark Page is questioned about the merits of investing in Spanish supermarket group, Dia. Dia is a 7,000-store Spanish discount supermarket chain. But with cheaper food prices coming on to the market and an improving Spanish economy, journalist Alexis Xydias questions Mark about its inclusion in the Artemis European Opportunities […]

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