IFAs seek expansion deals

Norwich Union and Skandia have entered into a deal with network Bankhall to offer £30m in loans to its members, providing financing to intermediary firms in need of capital. By the end of spring, Bankhall members will have access to loans at preferential rates to finance technology spending, recruitment of registered individuals and mergers and acquisitions. Tony Murell, operations director at Bankhall, said that getting access to this capital was a way for firms to survive and expand without having to sell stakes to providers. However borrowing money will not solve long-term probl...