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Virtual Net looks to take on Money Portal advisers

Technology-based network Virtual Net says it has opened its doors to Money Portal advisers and firms that want to set up on their own following the announcement that an possible acquisition is in the pipeline.

Virtual Net chief executive Junior Sobowale says: “Is Money Portal’s recent announcements tantamount to a forced sale such as that we saw with Network Data? And if so, what if it does not happen? Will the membership be left in a difficult position?

“Virtual Net have spare capacity and now is a great time for potential new members from Money Portal to put their business case to us. We are a bespoke network looking for quality, technology driven advisers who want to work with us so that we can all drive down costs and maximise profits.”


Call to base FSCS levies on risk

The House of Lords economic affairs committee has branded Financial Services Compensation Scheme levies “unfair” and called for calculations to be based on firms’ levels of risk.In its Banking Supervision and Regulation report, published this week, the committee says that while it is impossible to accurately measure the risk of bank portfolios, calculating levies on […]


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