The Finance Centre is working on a proposal to take over the mortgage packaging company IMB, with TFC expecting to take effective control of the business by the end of the day.
IMB - which was the packaging arm of mortgage network PMN - provided packaging services for Berkeley Berry Birch, which stated its long term objective was to bring IMB into their group to support their network Berkeley Independent Advisors (BIA). However following the removal of FSA permission for BIA to carry out regulated activities, IMB lost a significant part of its business volume when BIA was taken over by Tenet, although it continued to provide services to a number of directly authorised brokers. TFC says its proposal will allow IMB and its broker customers to take advantage of T...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
