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TenetLime reports £568k pre-tax loss

TenetLime has reported a pre-tax loss of £568,505 for the year ending September 30, 2010, following a £408,308 loss the year before.

The network says the loss is down to decreased profit margins and increased operating expenses, which increased from £2m in 2009 to £2.4m in 2010.

TenetLime increased its revenue by 25.8 per cent from £8.3m in 2009 to £10.4m in 2010.

Its current assets total £3.9m, up from £2.8m in 2009. The network’s total equity also improved, increasing from £545,887 to £857,196 between 2009 and 2010.

The network currently has 59 staff, eight of which are directors.

The directors’ report states the board is satisfied with the results and believes they reflect current market conditions.

TenetLime announced at the Tenet conference that it is holding talks about offering a single-tie protection proposition, which it says is in response to member feedback.


Subversive idea

My itinerant chairman’s “have gavel will travel” lifestyle last week took me to the easternmost edge of the City and the offices of Henderson to chair the London Multi-Manager Forum. Also on the bill were Cazenove, Gartmore and Skandia, conveniently completing a quartet that represents a sizeable chunk of the retail multi-manager market – as […]

Exit charge on LV= flexible drawdown

LV= says it will levy an exit charge on flexible drawdown clients to cover the cost of administering the product but is unlikely to levy an initial charge. The mutual provider, which has confirmed it will offer flexible drawdown from April 6, says some form of charge is needed to protect the interests of members […]


Lowes open letter slams Peter Hargreaves’ structured stance

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Sesame adds outside platform recommendations

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Guide: 10 required letters — what to send, to whom and when?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. The topics in this guide include: the letters you need to send out; what to send and when; the importance of employee engagement; and what to consider as additional communication.


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