networks

IFA business County Life & Pensions and investment manager Blacksquare are to be acquired by Tavistock Investments as part of its plans to assemble a national financial services business.

Being part of a network could actually cost advisers their livelihood, writes Sheriar Bradbury

Friends Life has reported a "disappointing" £19m loss for Sesame Bankhall Group (SBG) in 2013.

Chris Smallwood, the chief executive of Openwork-owned national IFA 2plan, has called on the regulator to crack down on what he said were 'misleading' terms used by some restricted advice firms to describe their services.

Old Mutual Wealth has bought advice network Intrinsic for an undisclosed sum as it continues its growth strategy across a number of channels.

Are advisers better off directly authorised?

The investment arm of restricted network Openwork has launched seven new funds which the business hopes will attract £150m worth of inflows in the first year.

Personal Touch Financial Services has said it plans to subsidise member firms' regulatory fees for 2014.

Network Financial has said its adviser numbers are down about 8% since the start of the year, as advisers retire or go directly authorised.

Jones Hill managing director Brian Hill has said he is going directly authorised (DA) after years with networks because he wants ‘more freedom' and lower costs.