Arc to dump fund operations in major IFA shift

In a letter to shareholders this morning, new Arc CEO Simon Banks-Cooper says the adverse recent market conditions has forced the group to shift focus to its IFA brands. Arc says it will look to grow and consolidate its three current IFA businesses, comprising of 30 advisers and consultants, through further acquisitions. The Throgmorton and Independent Investment Associates brands will continue to operate. Banks-Cooper says the IFA direction will enable Arc to have a “single, clear and unambiguous objective”. “It is the board's intention to seek and acquire further IFA businesses in o...