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Thomson&#39s seeking more buys and high achievers before floating by 2003

Acquisitive national IFA Thomson&#39s Group has revealed it will be making

fur- ther buys in the run-up to a stockmarket flotation of the company

within the next three years.

It recently snapped up IFA Redcliffe Associates and hopes to announce

another acquisition by the end of July upon successful completion of talks

already in progress.

In an interview with Money Marketing, Thomson&#39s chief executive Douglas

Gardner unveiled plans to set up a special division for “high achievers”

who he aims to entice with the prospect of the float and an attractive


He is also inviting “single-sited IFAs” and “good regional players” to

come on board.

Thomson&#39s is keen to acquire an operation in Birmingham, where is does not

have an office.

Gardner also revealed that it was in the bidding for national IFA Hambro

Fraser Smith but Towry Law won out in the end.

The deal with Redcliffe means that Thomson&#39s now has a turnover of £15m

and 100 registered individuals giving nationwide coverage .

Gardner says: “We hope that high achievers will come along for the ride.

We will be offering them capital assets. Since the Redcliffe acquisition,

two more RIs have already come on board.”


Aberdeen doubles pre-tax profits

Aberdeen Asset Management has posted doubled pre-tax profits of £13.4m for the first quarter of 2000. The increase from last year&#39s mark of £6.7m will likely garner the fund manager a much coveted top 10 spot in the Association of Unit Trusts and Investment Funds monthly figures.It is currently ranked the 13th largest fund manager […]

Life offices refute claims of clawback blundering

Life offices deny that they are making a huge number of commissionclawback claims in error despite the findings of network DBS.As reported last week in Money Marketing, DBS discovered that half ofcommission clawback claims made to its members were not genuine. Theanomaly was discovered when it set up an online service enabling IFAs tocheck on […]

Investment view

Never underestimate the importance of a single word. In this case, theword is “temporarily”. Last week, I made reference to the fact that thedownward spiral in technology shares had abated, perhaps temporarily. Theaddition of “briefly” would have made this statement accurate. Bargainhunters did step in to snap up what they perceived as promising companiesat rock-bottom […]

Broker support team for Cater Allen Bank

Cater Allen Bank is creating an intermediary sales support team in a bidto boost its banking services.CAB says it has assembled the sales team to boost its commission-payingbank account services to intermediaries.Newly appointed regional sales manager Andrew Chalmers has been with CaterAllen since 1998. His role will involve co-ordinating six area salesmanagers.The new managers include […]


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