groups to combine businesses and seek venture capital funding in bid to beat slump
Four of the best-known discount brokers are to combine their books of business and seek venture capital funding to survive the prolonged bear market. The Isa Shop, With-profits Shop, HCF Partnership and Willis Owen have as yet not finalised a deal but a new company Money Portal Plc has already been established and a website name registered at moneyportal.co.uk. Investment Week understands that Isa Shop has put together venture capital funding to consolidate the businesses. The four are looking to add another three discount brokerage by the third quarter of next year with a total targe...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes