Personal Touch/Tenet impress at Park Row IFA pitch events

Personal Touch and Tenet will both add significantly to their adviser numbers after impressing at roadshows arranged for in-limbo Park Row IFAs last week.

Loss-making Park Row, which is looking to offload its 240 advisers as it prepares for a solvent wind-down, says its IFAs were impressed by both propositions.

Talks to transfer the majority of Park Row's advisers to national IFA 2plan Wealth Management broke down last month, leaving them unsure of their future.

Personal Touch and Tenet were then invited to pitch to the advisers at five roadshows held across the UK on 7, 8 and 9 October after registering their interest.

"It was a positive turn-out and advisers were interested in both propositions," Park Row sales and marketing director Carey Shakespeare says. "Both will pick up good quantities of advisers."

Park Row stresses its advisers are "at liberty" to apply where they want and many are expected to still join 2plan, which already has more than 150 advisers.

"This is about trying to find a good home for our advisers," Shakespeare adds.

Park Row is seeking an orderly transfer of its advisers as part of a winding down of operations after parent company Royal Liver chose to cut its distribution activities to focus on product manufacturing.

Chief executive Peter Sprung says: "We could not come to the right outcome with 2plan, but we are pleased by the interest of Personal Touch Financial Services and Tenet Group.