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Why pay £75m for an insolvent firm?

How does Mr Douglas Black consider a £30m ICS bailout a good deal for

the industry?

Would a better deal not be allowing his firm to go into liquidation and

the liquidator pursuing Pricewaterhousecoopers?

Mr Black must also assume responsibility for this £48m black hole or

do we assume that he acquired a business he knew nothing about?

Furthermore why did AMP pay £75.7m for an insolvent business?

Mr Black&#39s failings have increased the level of ICS levy on every

individual IFA in the country and yet, for some obscure reason, he feels he

has done us all a favour and we should join him in his expansion ambitions.

Hopefully these new plans are better conceived than his previous effort

and will not incur further costs to the industry.

Kevin Truslove

Director,

Amherst Financial Services, Leamington Spa,

Warwickshire

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