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Tenet takes stake in Ayrshire Financial Services

Tenet, the UK&#39s largest independently owned IFA group, has acquired a 20% stake in M&E member Ayrshire Financial Services.

This is the first of what is likely to be a series of equity investments in IFA firms for Tenet, whose investment programme will be aimed at supporting fast growing and ambitious businesses.

Tenet says investment is needed in both monetary and manpower terms to help IFA firms increase their efficiency and meet the challenges brought by regulation.

Peter Lane, group commercial director at Tenet, says: “Ayrshire Financial Services was an attractive opportunity for us because it is a dynamic, forward-thinking practice which welcomes change.”

Alex Bruce, managing director of Ayrshire Financial Services, says: “This is an important step for our business. The increased investment of the Tenet group in Ayrshire Financial Services will help us fast track our development plans through availability of funding and management resource.”


Skipton launches new buy-to-let product

Skipton Building Society is launching a new mortgage for borrowers wanting to invest in the property market. The residential buy-to-let mortgage has a discount of 1.30% in the first year, offering an initial rate of 4.4%, flexible features and no compulsory insurance. There is a 0.5% discount off variable rate in year two, before reverting […]

TMPC increases distribution network

With the opening of a new office in Wales, The Mortgage Placement Company (TMPC) now has a network of four offices throughout the UK supporting financial advisers. Located in Cardiff, the new office has been established to process business from advisers based in Wales thereby providing local knowledge and support from one of the leading […]

Industry responses may force FSA&#39s hand

Responses to CP146 are putting the FSA under increasing pressure to amend controversial proposals for non-advised sales, as consultation on mortgage regulation closes today (November 11). CP146 plans for filtering questions – framed to provide information, not advice – have repeatedly come under attack. Gavin Hunt, compliance manager at Southern Pacific Mortgage Limited, told Mortgage […]

Preferred Mortgages agree bridging-loan partnership

Preferred Mortgages has partnered with Cheval Property Finance Plc to offer bridging loans to provide intermediaries with access to interim funding for their clients with minimal formalities. The most common use for bridging finance is to assist people buying property before their present house is sold. Preferred believe this type of funding is much underused […]


Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.


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