Hedge fund boss Crispin Odey has threatened to move his firm out of Britain to avoid the 50% income-tax rate on high-earners, reports The Sunday Times .
Cost-cutting measures saved IFA Park Row from an operating loss that may have approached £9m in 2008, results suggest.
Small directly authorised financial advisers are being urged to join a parent company before the Retail Distribution Review (RDR) is fully implemented.
Park Row, the IFA distribution arm of Royal Liver, has revealed operating losses reached £1.6m for the first half of 2008.
Park Row, the IFA distribution arm of Royal Liver, lost almost 100 registered advisers and shut down 17 offices after a "challenging" 2007, the firm's results reveal.
IFA firm Park Row has selected Intelligent Office as its front-back office tool for its 300 advisers.
Axa is shifting its tied sales operation, Axa Adviser Network, to its intermediary subsidiary Thinc Group, lifting Thinc's adviser base by another 260 advisers to over 1000 intermediaries.
Park Row has taken its first steps to expand into the London region with the appointment of a business development manager.
National IFA firm Park Row plans to more than double its adviser base over the next three years through a new distribution business model which it hopes will triple turnover.
Mike Baggaley has left Aegon-owned IFA group Origen to join Park Row Corporate & Private Clients as its southern regional sales manager.