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Towry recovers to 1.6m profit

Towry Law sees 1.6m profit in the first half of 2005, following a 0.1m loss in the same period last year. Turnover increased for the period, despiteTowry losing 25 per cent of advisers writing business. It now has 175 registered individuals.

A Henderson spokesman says: We anticipate Towry Law UK will remain profitable in second half 2005, although it is likely to contribute only a small portion of Group profits.


No more coppers

Congratulations to the financial boffins at Virgin Money for coming up with the idea of a 99p coin to free us from unwanted coppers and save the nation 133m in discarded change. The Diary notes that the idea recently reared its head as an election pledge in the 2005 “manicfesto” of the Official Monster Raving […]

Skandia releases new asset allocation advisers

Skandia has launched an asset allocation wheel to help demonstrate asset allocation to their clients.The wheel is a handheld tool designed to complement Skandia’s online risk profiling tool, USelect. By turning the wheel to the required risk and time horizon profile the adviser can demonstrate the ideal asset allocation mix.

IFAP and FSA clash over monitoring

The FSA is letting consumers down by failing to monitor the status of financial advisers under depolarisation, says IFA Promotion chief executive David Elms. Elms says the FSA’s refusal to document the scope of advisers’ businesses means the FSA is unable to provide consumers with vital information on whether an adviser is independent, whole of […]

Japan: the Land of the Rising Dividends

By George Boyd-Bowman, Fund Manager at Neptune Many Western investors have long bemoaned the lack of a true dividend culture in Japan, claiming the corporate culture is not tilted in favour of shareholders. Yet today, in the Land of the Rising Sun, we see a fresh impetus to focus on shareholder returns, which is leading […]


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