Cash rich firms urged to seize buyers' market

A study of the top 1,000 IFA businesses by research giant Plimsoll found the recession has forced almost 360 into loss-making positions and left a further 68 with "unmanageable" debt levels. It concludes 167 businesses are now "woefully exposed" to being snapped up as bargain acquisitions. Plimsoll says it has identified 434 companies it classes as "cash rich" but says this money would be better spent financing acquisitions than simply accumulating interest in the bank. "It is clear that the recession has caused a sea change in the IFA industry and, for companies with cash to spend...