Structured product provider NDFA is withdrawing from the race for Keydata Investment Services (KIS), which went into administration earlier this week.
NDFA managing director, Paul Bispham, says: "We approached administrators PwC earlier this week to express our interest in Keydata Investment Services and were provided with various documents and information.
"We have given this opportunity careful consideration, but having reviewed the opportunity, we are happy to withdraw our interest. We wish the administrator well in its efforts to find an appropriate solution.
"We will remain interested in all opportunities of this nature that present themselves in our drive to grow assets and to build the business, but for now our focus will remain our organic growth."
NDFA has launched more than 170 plans over the past 10 years, with sales in excess of £1.7bn. The provider says it is seeing substantial growth in new business, with profits expected to top £2m again in the current financial year.
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