View more on these topics

Speculation mounts on AWD Chase de Vere

Speculation is growing about the future ownership ofAWD Chase de Vere, with a number of suitors thought to be interested in taking over the adviser company.

Swiss Life made its offer for parent company AWD Holding AG for £824m in December and the deal is due to be accepted this week. SwissLife statements have consis-tently excluded the UK from its future strategy.

A range of potential buyers have been mooted for the 450-adviser firm, including Axa, Towry Law and private equity firms possibly looking at the IFA sector.

AWD UK group chief executive Mike Kirsch says: “I am well aware there has been constant speculation about the future of AWD in the UK for many months now and this has inevitably increased as a result of the acquisition of AWD Group by Swiss Life.

“As far as I am concerned, the business is not for sale and we are continuing with our strategy to build AWD Chase de Vere as one of the leading advice businesses in the UK.”

Swiss Life chief executive Rolf Dorig said in January: “As a key product partner for AWD, Swiss Life will receive additional distribution resources in Germany and Switzerland.

“In addition, AWD provides Swiss Life with access to the Austrian market and the growth markets in Central and Eastern Europe.”


Court puts bite on watchdog

A county court judge has echoed what many advisershave said for years, suggesting it is unfair for advisers to pay a case feeif a misselling complaintis rejected.

Steve Haggerty

Steve Haggerty, the new managing director of Skipton Building Society, is not short of ambition. This is the man who took Homeloan Management’s assets from £5.2bn tomore than £50bn in just five years and now he wants to see Skipton as the UK’s third-biggest building society.

Chiefs say CAR will not stop bias

Leading adviser firms are warning that customer-agreed remuneration will not remove product bias.Speaking at a Money Marketing RDR round table, the chief executives of Bankhall, Sesame and Tenet warned that CAR is a widely misunderstood term and is actually a dressed-up form of commission.Sesame chief executive Ivan Martin said: “We have somehow got to nail […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm