Vertex is understood to be in acquisition talks with several companies, including mortgage sourcing system Trigold.Capita and Mortgage Brain are also understood to be in the running for Trigold, which industry insiders value at about £20m. Trigold chief executive Bill Safran declined to comment on the rumours but admits he would obviously push for a higher price. Mortgage Brain and Trigold each have around 45 per cent of the mortgage sourcing market, meaning that if the two were joined tog-ether, concerns would be raised about creating a near-monopolisation of the market. Vertex life, pensions and distribution managing director David Childs says: “We are constantly in discussions with Trigold and Mortgage Brain about working closely together, meeting up from time to time to speak about opportunities and our own integration for our software and Exweb customers.” Mortgage Brain chief executive Mark Lofthouse says: “Both ourselves and Trigold have around 45 per cent of the market, with around 22,000 customers each. But there are fundamental diff-erences between the companies as we currently operate in three market areas as opposed to one.” Capita recently acquired Quay and Webline and Vertex bought 1st and The Exchange and both firms are looking to expand their propositions.
People without a pension will never get around to it unless they are forced
Former welfare minister Frank Field has continued his onslaught against Government pension reforms by calling on the industry to be more vociferous in criticising the plans. At the Merseyside Life & Pensions Society, Field said the apparent developing consensus around reforms was dangerous. He brought up the Dangerous Dogs Bill as an example of a […]
Aegon Scottish Equitable head of underwriting Matt Rann says people do not understand how critical-illness cover works and advisers and providers must educate them on what details must be disclosed
Standard Life saw an increase in pensions lapses due to customers consolidating pension arrangements following A-Day in the first half of 2006.The company has set up a pre-tax provision of 79m to cover expected lapses.The interim results are the first that reveal profitability to be released by the provider and show a growth in UK […]
Alex Ralph, manager of the Artemis High Income Fund, sees further pressure on government bonds as inflationary pressures build on both sides of the Atlantic.
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]