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Leading national wealth management firm Bellpenny announced today that it has exchanged contracts on the acquisition of EFG Independent Financial Advisers Ltd (EFG IFA), to form Bellpenny Group’s new independent advice arm, BIA Financial Planning. The deal is subject to change of control authorisation from the FCA. Acquired from EFG Private Bank Limited for an undisclosed sum, EFG IFA was originally formed following the acquisition of Ashby London and Platts Flello. EFG IFA has offices in Wolverhampton, Birmingham and London and brings 11 highly professional advisers with over 800 active

Too many business owners are afraid to confront their own mortality, according to David James, Senior Director , with offices in Birmingham, Wolverhampton and London. But that risks putting their much-loved firm into jeopardy should the worst happen, he cautions. Nearly 40 per cent of companies, including 57 per cent of SMEs, have no life insurance policies in place to help buy the shares of a recently deceased business owner, according to Legal & General. The research also revealed that 30 per cent of owners had no Will and no specific instructions on what should happen with thei

Don’t expect your home to be your pension pot, warns John Male, managing director, with offices in Birmingham, Wolverhampton and London. Research by Aegon found that 74 per cent of owners would only trade it for retirement income as a last resort. But many could be forced to do so against their will in order to pay hugely expensive nursing home fees. “Owning a home and building a pension need to be viewed separately and are both equally important,” said Mr Male. “The snapshot found that more than half (53 per cent) of householders want to leave their home to their loved one

There are early signs that pension freedom is concentrating the minds of savers, according to John Male, managing director of EFG Independent Financial Advisers, with offices in Birmingham, Wolverhampton and London. He says the latest snapshot shows realism is beginning to creep in as to what sort of retirement they might expect. But Mr Male insisted there was a very long way to go with expectations still massively out of kilter with the likely reality. His comments follow new research from Aegon indicating that 12 per cent of respondents are now on track, up from an even more dismal

Too many people start planning for their retirement far too late, an expert has warned. Even more worrying, some never do, cautioned John Male, Managing Director of EFG Independent Financial Advisers, with offices in Birmingham, Wolverhampton and London. It is recommended that people seek financial advice 40 years before retirement. But according to recent research by Unbiased.co.uk and MetLife, 38 per cent of UK adults are currently not saving anything for their retirement and many others miss out on ten years worth when they could be doing something about it. The average age at w

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