Lincoln Financial and Inter-Alliance, the IFA network, have settled a dispute through an out-of-cour...
Lincoln Financial and Inter-Alliance, the IFA network, have settled a dispute through an out-of-court settlement concerning the ownership of Lincoln's former operating centre at Uxbridge and head office in Gloucester.
Inter-Alliance bought Lincoln's direct sales team in September 2000, as well as agreeing to arrange servicing for Lincoln customers who wanted to maintain the relationship with their former adviser, however, it later emerged Inter-Alliance directors believed part of the deal included the ownership of two Lincoln offices.
Officials at Inter-Alliance say action began under the previous administration, however, Keith Carby, the new chief executive at Inter-Alliance has now settled the deal so both sides will pay their own costs and at no further charge to either side.
Keith Carby comments: "I am delighted that we have settled the litigation between us out of court. In my personal view, there should never have been litigation on the issue of properties. This settlement acknowledges this. It also enables Lincoln advisers, now Independent Financial Advisers, to offer their services to the relevant Lincoln policyholders. Everyone at Inter-Alliance can put this episode behind them and concentrate on taking full advantage of the tremendous opportunities now available to the Company."
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