IFA Lighthouse is in the driving seat to snap up more than 200 Park Row advisers should talks for a bulk transfer to 2plan Wealth Management break down.
IFAonline understands the Aim-listed company was second only to 2plan during initial discussions with Park Row's parent company Royal Liver, which is seeking to offload the loss-making business. The FSA is in the process of assessing the merits of a bulk transfer of up to 242 advisers from Park Row to 2plan Wealth Management in a deal worth a possible £1m. Initial discussions with the regulator were described as "very positive" but a decision is not expected for at least another week. If agreed, 2plan will pay up to £5,000 per Park Row adviser but the amounts will depend on each advi...
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