View more on these topics

Touch v Tenet for Row staff

Personal Touch Financial Services and Tenet are competing to sign Park Row’s 240 advisers after both firms were invited to present their plans in roadshows this week.

Park Row announced last week that exclusive talks with 2plan Wealth Management had collapsed. 2plan chief executive Chris Smallwood says he was shocked at not finding out the deal had fallen through until the press statement on Friday, having expected it to complete that day.

Park Row chief executive Peter Sprung says: “We could not come to the right outcome with 2plan but we are pleased by the interest of Personal Touch and The Tenet Group. We hope our advisers will make the most of the roadshows we have organised this week.”

Tenet and Personal Touch both say advisers would retain ownership of their clients if they transfer to either firm.

Tenet group distribution and development director Keith Richards says: “We are delighted to have been invited by Park Row to update their advisers and address any questions while at the same time present alternative business solutions for the future. We have always respected Park Row and we hope that Tenet will offer its advisers an ideal solution to continue their long career in financial services.”

Personal Touch group sales director Dev Malle says: “A key part of our strategy has been to grow the IFA business and so quality advisers from Park Row will fit well into our strategic plans.”

Smallwood says 2plan is disappointed it was unable to pursue the bulk transfer of advisers but will still welcome Park Row advisers that want to join and says a number have submitted applications.


Take a fixed view

As newsflow and sentiment change through economic and investment cycles, investor demand for different asset classes ebbs and flows. This, in turn, drives changing relative performance trends through the cycle. The credit crunch period since the summer of 2007 has been more extreme than the cycles of recent history but ultimately it has been no different in its influence on demand and performance.


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