Prestbury receives IFA authorisation

Amanda Jarvis

April 10, 2006

Prestbury Investment Management Ltd
Receives IFA authorisation.

Lee Birkett chief executive officer commented: “Now that the Mortgage and GI Market appears to have settled down, we feel the time is right to expand the Prestbury proposition.

“We want to make it clear that Prestbury Investment Management Ltd is a separate company to the Low Risk Mortgage and GI Network; Prestbury Financial Ltd. The low cost PI cover that Prestbury Network members receive will not be affected in any way by the launch of the IFA business.

“Prestbury Investment Management Ltd currently provides the Prestbury Network with its Mortgage Packaging Service and the IFA offering will be another valuable additional introductory service that the Network offers. Since the launch of the Prestbury Mortgage and GI Network, Prestbury advisers have been requesting a facility whereby they can introduce their clients to a trusted Prestbury practitioner to provide Inheritance Tax, Investment and Wealth Management advice, we are now able to provide this valuable and much needed service.

“The IFA offering provides a substantive additional revenue opportunity for Prestbury Mortgage and General Insurance practices that has historically been unavailable in the Mortgage market place. In addition, and if suitably qualified and competent, a practice can now expand their total product offerings to their clients and actually become, or employ, an authorised person to act as an IFA under Prestbury Investment Management.

“I personally believe that the 20,000 or so Mortgage and General Insurance advisers currently authorised are the Wealth Managers of the future, after all, Mortgage professionals advise on the largest asset purchase that an individual is likely to make. At present wealth management planning for 90% of the UK’s population is a second tier financial priority, ensuring they have a roof over their head and that they are adequately insured is their No 1 priority. I feel it’s a natural business development for the larger Prestbury practices to now enter the IFA arena to see their clients through from buying their homes and advising them into retirement.

“With shrinking adviser numbers in the UK, there is now a real opportunity for a clean start and I feel a rare Greenfield opportunity. Prestbury can enter the IFA marketplace with no baggage, a 14 year trading history and a highly talented and motivated advisor base from which to build”

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