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Sprung taking over as Park Row’s chief with aim to double advisers

Peter Sprung has taken the helm at Park Row and is pledging to more than double the firm’s number of advisers within the next three years.

He has been promoted to chief executive following the move to combine Park Row’s adviser division with parent company’s Royal Liver’s salesforce to create Park Row, A Royal Liver Company.

Sprung was head of Park Row Corporate and Private Clients and replaces Park Row chief executive and founder Tim Newman who is staying as a non-executive director.

The combined teams bring together 600 advisers, covering Park Row’s 430 IFAs, inclu- ding 45 corporate and pri- vate client advisers, and Royal Liver’s salesforce of 160.

Sprung joins Royal Liver’s executive board and says his targets are increasing combined turnover to 100m and increasing adviser numbers by over half to 1,400 by 2008.

Royal Liver salespeople will become salaried multi-tie advisers, accessing the wider market through its panel. Details of the panel are still being finalised.

Each of the 40 branches will house every type of adviser, including lead collectors, multi-tied, mortgage brokers, IFAs, corporate and private client planners and certif- ied financial planners. Park Row says it has 50 certified financial planners, with ano- ther 10 set to take the exam in February.

Sprung says: “We will gear the business around recruitment, retention and devel- opment. The core Park Row business will remain independent but each branch will include all types, making sure that clients always see the most suitable adviser.”

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